Steelcast Ltd approves preferential issue of 2024000 shares

The Board of Directors of Steelcast Ltd at its meeting held on February 17, 2016, have considered and approved the preferential issue of up to 20,24,000 Equity Shares of Rs. 5/- each of the Company at a price of Rs. 60/- (including premium of Rs. 55/-) per equity share to Non Promotes Investors, subject to the approval of the share holders of the Company in the Extraordinary General Meeting of the Company on the terms and conditions as prescribed under SEBI (ICDR) Regulations, 2009.

The Board also approved the notice of the Extraordinary General Meeting of the Company to be held on March 17, 2016.

Shares of STEELCAST LTD. was last trading in BSE at Rs.60 as compared to the previous close of Rs. 60. The total number of shares traded during the day was 17930 in over 52 trades.

The stock hit an intraday high of Rs. 62.7 and intraday low of 60. The net turnover during the day was Rs. 1088551.

Source : Equity Bulls

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