Emco Ltd approves private placement of shares

The Board of Directors of Emco Ltd at its meeting held on February 24, 2015 has approved the Private Placement Issue / Offer of 24,39,025 (Twenty Four Lakhs Thirty Nine Thousand And Twenty Five) Equity shares of Rs. 2/- each at a price of Rs. 41/- per share to be made to EMCO Investments Private Limited (a Promoter Group Company) on a preferential basis, in accordance with the approval given by the Shareholders at the Extra Ordinary General Meeting held on January 22, 2015 and the 'in principal approval' letters received from BSE dated February 18, 2015 & NSE dated February 16, 2015 in this regard.

Shares of EMCO LTD. was last trading in BSE at Rs.38.3 as compared to the previous close of Rs. 38.55. The total number of shares traded during the day was 172631 in over 630 trades.

The stock hit an intraday high of Rs. 38.8 and intraday low of 38.05. The net turnover during the day was Rs. 6649590.

Source : Equity Bulls

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