Patel Engineering Ltd calls for Board Meeting on June 29, 2016

A meeting of the Board of Directors of Patel Engineering Ltd will be held on June 29, 2016, to consider and approve the conversion of Debt into Equity pursuant to Strategic Debt Restructuring Scheme devised by the Reserve Bank of India {the RBI).

The Board will approve the proposal for conducting the postal ballot for obtaining approval of shareholders for conversion of debt in to equity.

Pursuant to this, the Company has decided that the close period (i.e. closure of trading window) for insiders covered, under the Company's Insider Code of Conduct would commence from June 25, 2016 and will end 48 hours after the Outcome of the Board meeting are made public on June 29, 2016.

Shares of PATEL ENGINEERING LTD. was last trading in BSE at Rs.48.05 as compared to the previous close of Rs. 49.75. The total number of shares traded during the day was 68321 in over 1029 trades.

The stock hit an intraday high of Rs. 48.9 and intraday low of 46.6. The net turnover during the day was Rs. 3245590.

Source : Equity Bulls

Keywords