HDIL to consider fund raising proposal on May 23, 2009

Housing Development & Infrastructure Ltd (HDIL) has now announced with reference to the earlier announcement dated May 18, 2009 regarding the Board Meeting of the Company is scheduled to be held on May 23, 2009, to consider adoption of Audited fourth quarter and annual accounts of the Company for the year ended March 31, 2009, that at the said Board Meeting, Board will also consider proposal for fund raising through various means like Qualified Institutions Placement to Qualified Institutional Buyers, preferential allotment to the promoters and / or any such manner or way Board may deem fit.

The stock closed the day at Rs.300.30, up by Rs.2.95 or 0.99%. The stock hit an intraday high of Rs.315 and low of Rs.290.

The total traded quantity was 9140991 compared to 2 week average of 8959726.

Source : Equity Bulls

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