Kalpataru Power, which had closed yesterday at Rs.517.85, opened higher today at Rs.520.05 and soon went on to hit a new 52-week high at Rs.565.90.

The stock rose after its Board approved raising Rs 99 crore via the issuance of non-convertible debentures (NCDs).

A total of 990 NCDs of face value of Rs 10 lakh each will be issued at a coupon rate of 8.46 per cent under the fundraising plan.