Tayo Rolls Ltd approves proposal to allot 64 lakhs RPS

The Board of Directors of Tayo Rolls Ltd at their meeting held on August 08, 2016 have decided, subject to the approval of the shareholders through Postal Ballot and e-voting, to allot 64,00,000 Lakhs Redeemable Preference Shares of Rs. 100/- each totaling to Rs. 64,000,000/- (Rupees sixty four crores only) to the promoters of the Company, namely Tata Steel Limited on preferential basis.

The postal ballot and e-voting will start w.e.f August 11, 2016 and will end on September 09, 2016.

Shares of TAYO ROLLS LTD.-$ was last trading in BSE at Rs.49 as compared to the previous close of Rs. 46.55. The total number of shares traded during the day was 4942 in over 52 trades.

The stock hit an intraday high of Rs. 50 and intraday low of 45.5. The net turnover during the day was Rs. 241228.

Source : Equity Bulls

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