Hydro S & S Industries Ltd Board approves Right Issue

The Board of Directors of Hydro S & S Industries Ltd at its meeting held on May 12, 2015, has considered equity fund raising proposals & approved an issue of equity shares on a "Rights" basis to the existing equity shareholders of the Company to the extent of about Rs. 100 crores. The Rights issue price and ratio would be decided at an appropriate time. The draft Letter of Offer placed before the Board of Directors has also been approved in-principle and steps are being taken to file the draft Letter of Offer with the regulatory authorities.

Shares of HYDRO S & S INDUSTRIES LTD.-$ was last trading in BSE at Rs.198.5 as compared to the previous close of Rs. 194. The total number of shares traded during the day was 1030 in over 30 trades.

The stock hit an intraday high of Rs. 199.9 and intraday low of 196. The net turnover during the day was Rs. 204302.

Source : Equity Bulls

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