Prajay Engineers to raise funds through preferential issue

Prajay Engineers Syndicate Ltd has announced that the Board of Directors of the Company at its meeting held on May 19, 2009, inter alia, have decided to increase the Authorised Share Capital of the Company from Rs 50 crores to Rs 90 crores.

To issue 4 crores shares / warrants to promoter and strategic investors on preferential basis.

To convene Extra Ordinary General Meeting of the Company on June 15, 2009.

The stock was trading at Rs.28.55, up by Rs.1.35 or 4.96%. The stock hit an intraday high of Rs.28.55 and low of Rs.27.95.

The total traded quantity was 139271 compared to 2 week average of 254932.

Source : Equity Bulls

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