Shri Lakshmi Cotsyn Board to reconsider fund raising proposal

Shri Lakshmi Cotsyn Ltd has announced that a meeting of the Board of Directors of the Company will be held on October 20, 2008, inter alia, to re-consider the means of financing including raising of equity by way of QIP / PE / PP (Private Placement) FCCB, GDR, ADR etc. in view of the unexpected turbulence in Capital Market.

To consider the postponement of the EGM scheduled to be held on October 31, 2008.

The stock closed the day at Rs.35.70, up by Rs.1.60 or 4.69%. The stock hit an intraday high of Rs.35.80 and low of Rs.32.40. The total traded quantity was 120406 compared to 2 week average of 64238.

Source : Equity Bulls

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