Shiva Cement to sign MOU with Orissa Govt

Shiva Cement Ltd has announced that the Board of Directors of the Company at its meeting held on July 21, 2007, has approved the proposal of signing MOU with Govt. of Orissa for expanding the plant capacity upto 2.6 Mn.T per annum in two phases. Nominee Director of ACC Ltd was also present in the meeting. Sri. R P Gupta is authorised to deal with this matter.

The Board of Directors of the Company at its meeting held on July 21, 2007, has decided to consider the allotment of Preference shares to Bank of Baroda after revising the premium in the next meeting. Till then the allotment is deferred.

The stock was trading at Rs.9.20, up by Rs.0.17 or 1.88%. The stock hit an intraday high of Rs.9.40 and low of Rs.9.01. The total traded quantity was 700340 compared to 2 week average of 1196007.

Source : Equity Bulls

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