Stock market update: Shares FMCG company Krishival Foods Limited are in focus today as the company has informed exchanges that its board of directors has approved a rights issue to raise funds to bolster its financial position. According to the information shared the board has approved raising funds of up to Rs 10 lakh through partly paid-up equity shares. Approved the fund raising by way of offer and issuance of partly paid-up equity shares of the Company of face value of ₹ 10 each (the “Equity Shares”) for an amount not exceeding ₹ 10000 lakhs by way of a rights issue (“Rights Issue”) to the eligible equity shareholders of the Company the company said in an exchange filing. The counter has gained even as stock markets started the trading session in the red amid mixed global cues. The stock started the trading session in the red at Rs 491 against the previous close of Rs 491.60 on the BSE. However it gained amid buying to touch a high of Rs 495 representing a 0.69 per cent gain from the last closing price. The scrip has gained after three days of consecutive fall and is just 2.79 per cent away from the 52-week high of Rs 506.4. The 52-week low of the scrip is Rs 355. The stocks 14-day relative strength index (RSI) is 62.74. For the uninitiated a level above 70 is considered overbought or overvalued and below 30 is defined as oversold or undervalued. Krishival Nuts a premium flavoured nut recently announced that its monthly sales in Singapore have exceeded USD 100000. The brand’s flavoured cashews pistachios and almonds have seen strong consumer demand driving this significant milestone. Currently available in 75 stores across Singapore Krishival plans to expand to 300 stores in the coming year reinforcing its position in the competitive Singaporean market. Krishival Foods sells its nuts and dried fruits under the brand ‘Krishival Nuts’ and ice cream under the brand ‘Melt n Melow’ through its subsidiary. (With PTI inputs)