Orbit Corporation bids for Ambuja Cement Ltd's property

Orbit Corporation Ltd has announced that the Board of Directors of the Company at its meeting held on April 17, 2007, inter alia, has transacted the following:

1. Taken note of the award of the bid to purchase a property from Ambuja Cement Ltd.

2. Nominated Orbit Shelter Pvt Ltd, an affiliate Company, to purchase and develop the said property for operational reasons, and for the said purposes.

3. To enter into and execute several agreements.

The stock was trading at Rs.158.30, down by Rs.3.20 or 1.98%. The stock hit an intraday high of Rs.164.90 and low of Rs.157.85. The total traded quantity was 1010948 shares compared to 2 week average of 5255039.

Source : Equity Bulls

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