Shiva Cement Board approves preferential issue to promoter's group

The Board of Directors of Shiva Cement Ltd at its meeting held on June 06, 2012 has approved the Preferential Issue of 5.00 Mill. Equity Shares to Promoter's Group at a price of Rs. 11/- per share (including premium of Rs. 9/- per share) upon conversion of Equity Share Warrants. The outstanding Bonus shares to the respective allottee upon conversion of Equity Share Warrants has also been allotted.

The Shiva Cement Ltd stock was trading at Rs.5.35, up by Rs.0.33 or 6.57%. The stock hit an intraday high of Rs.5.65 and low of Rs.4.90.

The total traded quantity was 14.02 lakhs compared to 2 week average of 4.07 lakhs.

Source : Equity Bulls

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