Cals Refineries to raise US$ 500 Million

Cals Refineries Ltd has announced that the Board of Director has decided to issue the Postal Ballot Notice seeking the approval of the members of the Company under Section 81 (1A) of the Companies Act, 1956 for issue, allot GDR / FCCB of US$ 500 million in addition to the GDR / FCCB issue already approved by the member of the Company in the 23rd Annual General meeting held on September 12, 2007.

The stock was trading at Rs.2.05, down by Rs.0.10 or 4.65%. The stock hit an intraday high of Rs.2.05 and low of Rs.2.05.

The total traded quantity was 1577270 compared to 2 week average of 5878459.

Source : Equity Bulls

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