Orissa Sponge Iron & Steel Ltd to allot NCRPS

The Board of Directors of Orissa Sponge Iron & Steel Ltd at its meeting held on August 14, 2014, has considered / approved the candidature of 3 Non Executive Directors as Independent Directors for the approval of members at the said AGM.

The Board approved the issue and allotment of 10% Cumulative Non Convertible Redeemable Preference Shares of Rs. 10 each at par on private placement redeemable at the end of 12 years from the date of allotment amounting to Rs. 20 crores.

The Board approved the report of the Cost Auditor and recommendation of Reappointment of Director retiring by rotation for approval of the members at the AGM.

The Board also approved the appointment of Internal Auditors and Cost Auditors.

Shares of ORISSA SPONGE IRON & STEEL LTD.-$ was last trading in BSE at Rs.227.65 as compared to the previous close of Rs. 216.85. The total number of shares traded during the day was 1839 in over 108 trades.

The stock hit an intraday high of Rs. 227.65 and intraday low of 220. The net turnover during the day was Rs. 415330.

Source : Equity Bulls

Keywords