Reliance Chemotex EGM approves issue of 165750 shares

Reliance Chemotex Industries Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 26, 2009, inter alia, have accorded to issue and allot 1,65,750 Equity Shares of Rs 10/- each at a premium of Rs 17/- per equity share amounting to Rs 44,75,250/- to M/s Modern Fibotex India Ltd., a Promoter Group Company and / or their Nominee(s), by way of preferential allotment on such terms and conditions as may be decided by the Board, subject to necessary provision and approvals.

The stock closed the day at Rs.19.65, up by Rs.3.25 or 19.82%. The stock hit an intraday high of Rs.19.65 and low of Rs.16.30.

The total traded quantity was 31833 compared to 2 week average of 3377.

Source : Equity Bulls

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