Ushdev International to raise funds through rights issue

Ushdev International Ltd has announced that the Board of Directors of the Company at its meeting held on April 17, 2007, has decided to raise further issue of capital by issue of right shares to be offered to the existing shareholders of the Company. The Company has authorised Mr. Vijay Gupta, Managing Director of the Company to decide regarding the ratio and price of issue in consultation with the merchant bankers and report to the Board of Directors at its next Board Meeting.

The stock closed the day at Rs.111, down by Rs.1.85 or 1.64%. The stock hit an intraday high of Rs.111 and low of Rs.111. The total traded quantity was 25 compared to 2 week average of 312.

Source : Equity Bulls

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