Dhanalakshmi Bank Board approves Rights Issue

Dhanalakshmi Bank Ltd has announced that the Board of Directors of the Bank at its meeting held on April 16, 2007 has approved the issue of shares on rights basis and has authorized a Committee of Directors of the Board to decide the modalities of the proposed rights issue including but not limited to determining the quantum of the capital to be raised through the above rights issue, the share price, the proportion as nearly as circumstances admit to the paid up capital of the Bank, and the timing including record date of the issue.

The stock closed the day at Rs.65.85, up by Rs.3.10 or 4.94%. The stock hit an intraday high of Rs.65.85 and low of Rs.64. The total traded quantity was 17763 compared to 2 week average of 21724.

Source : Equity Bulls

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