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The board of directors at Excel Realty N Infra has approved an increase in the issuance of equity shares through a Qualified Institutions Placement (QIP) for a total amount of up to Rs 2500 crore which includes the premium. This increase in authorised capital will enable the company to issue up to 2500 crore shares with a face value of Re 1 each pending shareholder approval. Previously the limit was set at 500 crore shares. The board has also authorised the increase of the company’s authorised capital from Rs 500 crore (divided into 500 crore shares of Re 1 each) to Rs 2500 crore (divided into 2500 crore shares of Re 1 each) pending the approval of shareholders as stated in a filing to the stock exchange. In the meantime the companys shares have come under pressure experiencing a decline for the past two days. The stock has fallen by 3.43% during this period and dropped by 2% in the opening session reaching a lower circuit of Rs 1.69. The current market capitalisation of the company is approximately Rs 238 crore. From a technical standpoint the stock trades above the 20-day 50-day 100-day and 200-day moving averages but below the 5-day moving average. The stocks 52-week high is Rs 1.86 while the 52-week low is Rs 0.65. Despite the recent decline the stock has delivered remarkable returns of 2300 per cent over five years. According to BSE Analytics the stock gained 172.58 per cent 322.50 per cent and 128.38 per cent over three years two years and one year respectively. Equity benchmark indices Sensex and Nifty were trading in positive territory during early trading on Monday driven by gains in banking stocks. The 30-share BSE Sensex rose by 67.62 points to 81274.79 in opening trade while the 50-share NSE Nifty increased by 22.3 points to 24916.55.