Raj Irrigation Pipes & Fittings Ltd approves capital reduction

The Board of Directors of Raj Irrigation Pipes & Fittings Ltd at its meeting held on January 16, 2015, have subject to the approval of the Hon'ble High Court of Bombay, shareholders, Stock Exchanges where the shares of the company are listed and other relevant regulatory authorities approved the reduction of Equity Share Capital of the Company from Rs. 3,10,00,000/- divided into 31,00,000 Equity Shares of Rs. 10/- (Rupees Ten only) each fully paid up to Rs. 31,00,000/- divided into 3,10,000 Equity Shares of Rs. 10/- (Rupees Ten only) each and that such reduction be effected by canceling of 27,90,000 Equity Shares of Rs. 10/- each amounting to Rs. 2,79,00,000/- in the existing paid up Equity Share Capital against debit balance in Profit and Loss account.

Shares of RAJ IRRIGATION PIPES & FITTINGS LTD. was last trading in BSE at Rs.9.24 as compared to the previous close of Rs. 9.42. The total number of shares traded during the day was 100 in over 2 trades.

The stock hit an intraday high of Rs. 9.24 and intraday low of 9.24. The net turnover during the day was Rs. 924.

Source : Equity Bulls

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