Astra Microwave Products Ltd increases authorised share capital

The Board of Directors of Astra Microwave Products Ltd at its meeting held on April 28, 2014, has approved the proposal to increase the authorised share capital. In order to augment further capital raising, the Board have recommended for increase in the Authorised Share Capital and consequent alteration of the Memorandum of Association of the Company subject to the approval of the Shareholders. The existing Authorised Share Capital of the Company of Rs. Rs.20,00,00,000/-(Rupees Twenty crores only) divided into 10,00,00,000 (Ten crores only) equity shares of Rs. 2/- each (Rupees Two only) is proposed by the Board of Directors to be increased to Rs.30,00,00,000/- (Rupees Thirty crores only) comprising of 15,00,00,000 (Fifteen crores only) equity shares of Rs. 2/- each (Rupees Two only) subject to the approval of the Shareholders.

The Board also approved proposal to appoint Mr.U.K.Kalyanaramudu (Nominee Director of Larsen & Toubro) as Additional Director of the Company with effect from April 28, 2014.

Shares of ASTRA MICROWAVE PRODUCTS LTD. was last trading in BSE at Rs.62.2 as compared to the previous close of Rs. 62.65. The total number of shares traded during the day was 233143 in over 2463 trades.

The stock hit an intraday high of Rs. 64.1 and intraday low of 53.7. The net turnover during the day was Rs. 14603200.

Source : Equity Bulls

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