HDIL, a Mumbai based realty company is amongst the top gainers on the BSE currently. The stock price rose over 8% to Rs.69.05. Its 52-week high stands at Rs.101.91.

On 12th Jan, the company, through a Special committee of Board, approved allotment of 2 crore warrants to the promoter through a preferential basis– Sarang Wadhawan. This was issued at a price of Rs.70.50/warrant.

The management intends to use the proceeds of the preferential issue of the warrants for long-term working capital purposes.

At end of Q2FY18, Sarang Wadhawan held a 4.41% stake while total promoter stake stood at 36.49%.