Eastern Silk to raise US$100 million

Eastern Silk Industries Ltd has announced that the Board of Directors of the Company at its meeting held on July 10, 2007, has subject to the approval to the shareholders decided for fund raising programme for the Company to the extent of US$ 100 million by issue of GDR / ADR / FCCB for expansion / acquisition plans of the Company.

The stock closed the day at Rs.306.10, up by Rs.0.75 or 0.25%. The stock hit an intraday high of Rs.315 and low of Rs.303.10. The total traded quantity was 24207 compared to 2 week average of 94128.

Source : Equity Bulls

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