High Energy Board approves rights issue, declares 40% dividend

High Energy Batteries India Ltd has announced that the Board of Directors of the Company at its meeting held on June 23, 2007, has approved the proposal for issue of Equity Shares on Rights basis to the Shareholders as on Record Date to be fixed by the Board in the proportion of one Equity Share at Face Value Rs 10/- each for every three Equity Shares held by them at a premium of Rs 290/- per share, which is being placed before the Share Holders at the ensuing AGM for approval.

The Board of Directors of the Company at its meeting held on June 23, 2007, inter alia, has recommended payment of Dividend at 40% for the year 2006-07.

The stock was trading at Rs.472, down by Rs.0.05 or 0.01%. The stock hit an intraday high of Rs.472 and low of Rs.472. The total traded quantity was 9 compared to 2 week average of 14.

Source : Equity Bulls

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