Sumeet Industries to issue shares on preferential basis, fixes Record Date for bonus issue

Sumeet Industries Ltd has announced that April 27, 2007 has been fixed as the Record Date for the purpose of Bonus Issue.

The Board of Directors of the Company at its meeting held on April 13, 2007 has decided to make Preferential Allotment 9,17,000 Equity Shares of Rs 10/- each at a Premium of Rs 20/- per shares to following Companies namely 6,67,000 Equity Shares to M/s. Bennett, Coleman & Co. Ltd and 2,50,000 Equity Shares to M/s. Vishvas Infrastructure Ltd.

The stock closed at the upper level of circuit limit at Rs.15.85. The total traded quantity was 442748 shares compared to 2 week average of Rs.332925. The stock hit an intraday high of Rs.15.85 and low of Rs.15.70.

Source : Equity Bulls

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