Shree Digvijay Cement to consider raising Rs 100 crores

Shree Digvijay Cement Company Ltd has announced that the Board of Directors of the Company at its meeting held on January 27, 2009, inter alia, has decided and approved to convene an Extra-ordinary General meeting of its Shareholders on February 24, 2009 to seek approval under section 81(1-A) of the Companies Act, 1956 for preferential allotment of Non-Cumulative Compulsory Convertible Preference Shares aggregating Rs 100 Crores (Rupees One Hundred Crores only) entitled to dividend at the rate of 6% (Six percent) per annum, to the Promoters of the Company. Cimpor Inversiones SA to strengthen the Capital base of the Company.

The stock closed the day at Rs.5.47, down by Rs.0.21 or 3.70%. The stock hit an intraday high of Rs.6.44 and low of Rs.5.32.

The total traded quantity was 32864 compared to 2 week average of 31482.

Source : Equity Bulls

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