Electrosteel Castings to invest upto Rs.630 crores in Electrosteel Integrated Ltd

Electrosteel Castings Ltd has announced that the Board of Directors of the Company at its meeting held on June 22, 2007, inter alia, has approved investment of upto Rs 630 Crores in Equity of Electrosteel Integrated Ltd, an Associate Company in a phased manner over a period of 2.5 years. This decision supercedes the Board decision taken in its meeting held on May 07, 2007 wherein investment of upto Rs 500 crores was approved.

The stock closed the day at Rs.402, up by Rs.1.15 or 0.29%. The total traded quantity was 4426 compared to 2 week average of 30925. The stock hit an intraday high of Rs.405 and low of Rs.400.25.

Source : Equity Bulls

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