Cimmco Board approves Issue of Preference Shares to the extent of Rs. 50 crore to the Promoter

The Board of Directors of Cimmco Ltd at its meeting held on April 12, 2014, has decided to issue 8% Non Cumulative Redeemable Preference Shares aggregating to the extent of Rs. 50 Crore to a Promoter Group Entity on private placement basis.

The Board also approved extension of financial year ended March 31, 2014 to end on the June 30, 2014 subject to compliance with all the applicable provision of law.

Shares of CIMMCO LTD. was last trading in BSE at Rs.15.9 as compared to the previous close of Rs. 15.95. The total number of shares traded during the day was 7992 in over 45 trades.

The stock hit an intraday high of Rs. 16.7 and intraday low of 15.2. The net turnover during the day was Rs. 128139.

Source : Equity Bulls

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