Jindal Saw Ltd approves issue of CCDs to promoter group company

The Board of Directors of Jindal Saw Ltd at its meeting held on October 10, 2014, has approved the issuance of Compulsorily Convertible Debentures (CCDs) on preferential basis to M/s. Four Seasons Investments Ltd., a Promoter Group Company subject to the necessary approvals in this regard.

The Board of Directors have also convened an extraordinary general meeting of the shareholders of the Company on November 09, 2014 at the registered office of the Company for seeking the approval of shareholders by way of special resolution for the above issuance of CCDs.

Shares of JINDAL SAW LTD. was last trading in BSE at Rs.79.3 as compared to the previous close of Rs. 83.3. The total number of shares traded during the day was 105979 in over 1738 trades.

The stock hit an intraday high of Rs. 82.6 and intraday low of 79. The net turnover during the day was Rs. 8557639.

Source : Equity Bulls

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