Hinduja Foundries Ltd plans GDR issue for Rs. 400 crores

The Committee of Board of Directors ("Finance Committee") of Hinduja Foundries Ltd at their meeting held on January 25, 2016 recommended to the Board of Directors to issue Global Depository Receipts (GDRs) to promoters, promoter group, group company(ies) and any other entity which is a subsidiary, associate of its parent, group companies or any other entity eligible to invest in GDR for an amount upto Rs. 400 Crores.

The Board of Directors at their meeting (which was held immediately on conclusion of the Finance Committee meeting) discussed deliberated and approved the issue of GDRs to promoters, promoter group company(ies) and any other entity which is a subsidiary, associate of its parent, group companies or any other entity eligible to invest in GDR for an amount up to Rs. 400 Crores.

Shares of HINDUJA FOUNDRIES LTD. was last trading in BSE at Rs.33.8 as compared to the previous close of Rs. 32.85. The total number of shares traded during the day was 976 in over 13 trades.

The stock hit an intraday high of Rs. 34.35 and intraday low of 32.05. The net turnover during the day was Rs. 32949.

Source : Equity Bulls

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