Jayaswal Neco Industries Ltd to seek EGM nod for issue of 4 crore shares at Rs. 25

The Board of Directors of Jayaswal Neco Industries Ltd at its meeting held on June 25, 2014, has subject to requisite approvals of Stock Exchanges and others, approved inter alia issue of further 4,00,00,000 Equity Shares of Rs. 10/- each at Premium of Rs. 15/- per share on preferential basis for the purpose of raising further Equity as a part of Equity contribution towards expansion projects of the Company under implementation.

The Board of Directors has also approved to convene Extra-ordinary General Meeting of the Members of the Company on the July 25, 2014, at the registered office for obtaining approval of the Members of the Company to the aforesaid preferential issue under Section 42, Section 62 of the Companies Act, 2013.

Shares of JAYASWAL NECO INDUSTRIES LTD. was last trading in BSE at Rs.16.14 as compared to the previous close of Rs. 15.45. The total number of shares traded during the day was 197858 in over 789 trades.

The stock hit an intraday high of Rs. 16.2 and intraday low of 15.55. The net turnover during the day was Rs. 3174951.

Source : Equity Bulls

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