Reliance Infrastructure to consider preferential issue on May 24, 2009

Reliance Infrastructure Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 24, 2009, inter alia, to consider, the preferential allotment of equity and/or equity related securities entitling upto 4.3 crore equity shares, to the Promoters and/or other investors, against cancellation of the outstanding 4.3 crore warrants, subject to necessary permissions, sanctions, approvals and applicable provisions of law.

The stock closed the day at Rs.1120.70, up by Rs.10.75 or 0.97%. The stock hit an intraday high of Rs.1147 and low of Rs.1084.20.

The total traded quantity was 1233198 compared to 2 week average of 1512845.

Source : Equity Bulls

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