Somany Ceramics Ltd approves issue of securities upto Rs. 150 crores

The Board of Directors of Somany Ceramics Ltd at its meeting held on March 24, 2015, has approved the proposal to obtain consent of the Members of the Company by way of passing Special resolutions through Postal Ballot for issuance of securities aggregating upto Rs. 150.00 Crore pursuant to Sections 23, 42, 62 of the Companies Act, 2013 and the rules prescribed thereunder and other applicable laws.

The Board approved increase in present investments limits of Foreign Institutional Investors (FIIs)/ Foreign Portfolios Investors (FPIs) and Non Resident Indians (NRIs) in the paid up equity share capital of the Company in accordance with applicable laws.

The voting shall be reckoned in proportion to the shares held by a Member in the paid up equity share capital of the Company as on March 27, 2015, i.e., cut-off date.

Shares of SOMANY CERAMICS LTD. was last trading in BSE at Rs.374.5 as compared to the previous close of Rs. 355.7. The total number of shares traded during the day was 1705 in over 406 trades.

The stock hit an intraday high of Rs. 374.8 and intraday low of 358.3. The net turnover during the day was Rs. 625325.

Source : Equity Bulls

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