Transformers and Rectifiers India Ltd Board approves Sub-division of equity shares

The Board of Directors of Transformers and Rectifiers (India) Ltd at its Meeting held on August 03, 2017, considered, discuss and approved the proposal to obtain enabling approvals, from the shareholders for issuance of equity shares, and/or equity linked securities and/or securities convertible into equity shares through Qualified Institutional Placement (QIP) or preferential allotment for an amount not exceeding Rs. 250 crore. Further members approval shall be obtained in forthcoming Annual General Meeting for this matter.

The Board approved the subdivision of Equity Share from the face value of Rs. 10/ per share to Rs. 1/- per share, subject; to approval of the Members.

The Meeting of Board of Directors commenced at 12:00 Noon and concluded at 01:00 p.m.

Shares of TRANSFORMERS AND RECTIFIERS (INDIA) LTD. was last trading in BSE at Rs.339.4 as compared to the previous close of Rs. 343.9. The total number of shares traded during the day was 41734 in over 1684 trades.

The stock hit an intraday high of Rs. 356.95 and intraday low of 334.8. The net turnover during the day was Rs. 14562126.

Source : Equity Bulls

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