Birla Precision board OKs raising 1.5 bln rupees

MUMBAI, July 4 (Reuters) - Machine tools maker Birla Precision Technologies Ltd (BRLK.BO: Quote, Profile, Research) said on Friday its board has approved raising up to 1.5 billion rupees, through a share or bond issue.

The company's board also approved raising the foreign investment limit to 74 percent of the company's equity capital.

Ahead of the announcement, shares in the company ended at 40 rupees, down 2.3 percent in a strong Mumbai market.

(Reporting by Prashant Mehra; editing by Rosemary Arackaparambil)