Essar Steel Updates on share premium account

Essar Steel Ltd has announced that the Hon'ble High Court of Gujarat has passed an order pursuant to provisions of Section 102(1) of the Companies Act, 1956 on April 04, 2007 confirming the Special Resolution passed by the members of the Company at the Annual General Meeting held on September 30, 2006 in connection with adjustment of One time Recompense Charges and Prepaid Power Charges against the credit balance standing in Securities Premium Account.

The stock closed the day at Rs.41.05, up by Rs.1.20 or 3.01%. The stock hit an intraday high of Rs.41.60 and low of Rs.40. The total traded quantity was 280798 shares compared to 2 week average of 380761.

Source : Equity Bulls

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