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Shares of Astra Microwave Products Ltd. soared nearly 5 percent to Rs 327.55 on Tuesday after the company said that its board will meet on Friday, December 9, to consider raising Rs 400 crore.

The board will also approve the induction of Atim Kabra as a Non-Executive Whole-Time Director of the company.

Astra Microwave Products at its analyst's call in November disclosed that the order book of the company stood at Rs 1,850 crore as of September 30, 2022. Of the total order book, 68 percent of the orders were domestic orders and the rest were export orders.

Net sales of the company stood at Rs 174.69 crore in the September quarter, down 2.87 percent from Rs 179.86 crore in the year-ago period. Net profit stood at Rs 20.52 crore, up 507.05 percent from Rs 3.38 crore in the year-ago quarter

Shares of Astra Microwave Ltd. ended nearly 5 percent higher at Rs 321.90.

(Edited by : Rukmani Krishna)