CMI Ltd approves issue of 70 lakh shares

The Board of Directors of CMI Ltd at its meeting held on May 14, 2014, has decided/approved the reclassification of Authorised share Capital of the Company and alteration in Capital Class of the Memorandum of Association of the Company and alteration in Articles of Association of the Company.

The Board approved the issue of 70,00,000 Equity Shares having face value of Rs 10/- each, on preferential basis, to promoters/promoter group and Non promoters and the relevant date on which price is to be calculated shall be determined in accordance with Chapter VII of the SEBI (ICDR) Regulations.

Shares of CMI LTD. was last trading in BSE at Rs.14.25 as compared to the previous close of Rs. 13.8. The total number of shares traded during the day was 291 in over 12 trades.

The stock hit an intraday high of Rs. 14.25 and intraday low of 12.74. The net turnover during the day was Rs. 3823.

Source : Equity Bulls

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