MM Forgings Shares Jump 4% on Board Approval for ₹600 Crore Fundraise

• MM Forgings Ltd shares surged 4% after its board approved a proposal to raise up to ₹600 crore.
• The fundraising can be done through various modes, including Qualified Institutional Placement (QIP) and other permissible instruments.
• The company's board also approved increasing the authorized share capital from ₹51 crore to ₹61 crore, pending shareholder approval.
• MM Forgings expects recovery in FY27 after a slowdown, with margins projected at 17–18%.
• US exports, which had dropped to 9% of sales, are improving, with full recovery anticipated from March 2026.