Dollex Industries Board to consider stock split

Dollex Industries Ltd has announced that the meeting of the Board of Directors of the Company which is scheduled to be held on July 19, 2007, inter alia, will also consider the following additional business:

1. Sub-division of the face value equity shares of Rs 10/- each subject to the approval of the members of the Company.

2. Subject to the approval of the members of the Company, issuance of further shares under Section 81 (1A) of the Companies Act, 1956 up to US $ 25 million by way of international offering by issue of convertible securities / Foreign Currency Convertible Bonds (FCCBs), Global Depository Receipts (GDRs) / American Depository Receipts (ADRs) / and / or by way of private placement, whether in Indian currency of foreign.

The stock was trading at Rs.131, up by Rs.5.50 or 4.38%. The stock hit an intraday high of Rs.131.90 and low of Rs.125.55. The total traded quantity was 185828 compared to 2 week average of 206969.

Source : Equity Bulls

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