Ashco Industries approves preferential issue

Ashco Industries Ltd has announced that the Board meeting convened on September 03, 2007 to consider the preferential issue of securities was adjourned to September 04, 2007.

At the adjourned Board Meeting, the Board has approved the preferential issue of 78,00,000 convertible warrants at Rs 10/ each to Promoters and Select Group of persons, subject to approval of Shareholders, stock exchange and other Regulatory Authorities in accordance with Chapter XIII of the SEBI (Disclosure and Investor Protection) Guidelines, 2000.

The stock was trading at Rs.30.30, up by Rs.0.15 or 0.50%. The stock hit an intraday high of Rs.31 and low of Rs.29.85. The total traded quantity was 40291 compared to 2 week average of 35907.

Source : Equity Bulls

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