Neuland Laboratories Board approves Right Issue to raise upto Rs. 25 crore

The Board of Directors of Neuland Laboratories Ltd at its meeting held on February 05, 2014, has approved the issue of equity shares on Rights basis to the members of the Company not exceeding Rs. 25 crores.

The Board approved constitution of a sub-committee called the Rights Issue Committee to finalize the Rights ratio, issue price, record date and all other matters relating the proposed Rights Issue.

Shares of Neuland Laboratories Ltd was last trading in BSE at Rs.281.25, down by Rs.14.85 or 5.02%. The stock hit an intraday high of Rs.297.70 and intraday low of Rs.280.

The total traded quantity was 2186 shares as compared to 2 week average of 7820 shares.

Source : Equity Bulls

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