NCC Ltd Board approves Right Issue of Equity Shares

Subject to the requisite statutory & regulatory approvals and other consents / approvals as may be necessary, the Board of Directors of NCC Ltd at its meeting held on April 09, 2014 approved raising of funds upto an amount of Rs. 650 Crores through Rights Issue of equity shares to the existing members of the Company The terms and conditions of the Rights Issue including the rights entitlement ratio, the issue price, issue size, record date, timing of the Rights Issue and other related matters shall be decided subsequently by the Board / a duly constituted Committee of the Board in consultation with the lead managers to the Rights Issue. The Board had also accorded inprinciple approval for increasing the Authorized Share Capital from Rs. 60 Crores to Rs. 150 Crores.

Shares of NCC Limited was last trading in BSE at Rs.41.75 as compared to the previous close of Rs. 38.1. The total number of shares traded during the day was 850506 in over 6570 trades.

The stock hit an intraday high of Rs. 42.45 and intraday low of 37.65. The net turnover during the day was Rs. 34206591.

Source : Equity Bulls

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