IOL Chemicals & Pharmaceuticals Ltd approves extension of redemption of NCRPS

The Board of Directors of IOL Chemicals & Pharmaceuticals Ltd at its meeting held on February 08, 2014, has considered and approved the extension of date of redemption of 7% Non Cumulative Redeemable Preference Shares subject to the approval of the shareholders through Postal Ballot.

The Board considered and discussed to restructure the business of the Company and authorized the Managing Director to explore the possibility of various options consisting of demerger or merger, incorporate one or more subsidiary companies, joint ventures and to transfer the business of one segment/product, or in combination or otherwise arrange the business of company to unleash the potential of the Company.

Shares of IOL CHEMICALS & PHARMACEUTICALS LTD. was last trading in BSE at Rs.18.3 as compared to the previous close of Rs. 19.05. The total number of shares traded during the day was 1181 in over 49 trades.

The stock hit an intraday high of Rs. 19.5 and intraday low of 18.15. The net turnover during the day was Rs. 22241.

Source : Equity Bulls

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