What to watch. Hind Rectifiers: Rights issue opens on Friday

Shares of Hind Rectifiers will remain in focus as its ₹12-crore rights issue opens for subscription on Friday. The company plans to issue 15,05,793 shares for cash at a price of ₹80 on rights basis to eligible shareholders in the ratio of one share for 10 fully paid-up shares held on the record date - October 18. The issue closes on November 24. The funds raised will be used to meet additional working capital requirements and for general corporate purposes.