Tantia Constructions has rallied 18% to Rs 54 after the company announced rights issue plans.

The board of directors of the company will meet on February 13, 2012, to consider rights issue of equity shares, the construction and engineering company said in a filing to the stock exchanges.

The board will also consider the unaudited financial results of the company for the quarter ended December 31, 2011, it added.

A combined around 27,752 shares have changed hands on the counter so far on the both the exchanges.