Electrosteel Steels Ltd to consider allotment as per CDR

A meeting of the Board of Directors of Electrosteel Steels Ltd will be held on July 01, 2014, for taking on record the CLB order for issuance of Equity Shares under Preferential Allotment as per CDR to Electrosteel Castings Ltd, the Promoter Company. The Preferential issue was already approved by shareholders by postal ballot on March 19, 2014 and thereafter the petition was filed before CLB for issuance of Shares at discount.

The trading Window of the Company, in terms of SEBI (Prohibition of Insider Trading) Regulations 1992, shall remain closed from June 24, 2014 to July 03, 2014 (both days inclusive), in view of Board Meeting scheduled for July 01, 2014.

Shares of ELECTROSTEEL STEELS LTD. was last trading in BSE at Rs.6.25 as compared to the previous close of Rs. 6.56. The total number of shares traded during the day was 214511 in over 339 trades.

The stock hit an intraday high of Rs. 6.65 and intraday low of 6.24. The net turnover during the day was Rs. 1364157.

Source : Equity Bulls

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