Southern Ispat to consider preferential issue on May 26, 2009

Southern Ispat Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 26, 2009, inter alia, to consider the warrant issue and to decide about the quantum of issue.

To consider increasing the Authorised Capital of the Company and to consider passing resolution under Sec 81 (1A).

To approve the draft notice convening an Extraordinary General Meeting and to fix the date time and venue for the same.

The stock was trading at Rs.12.98, up by Rs.0.57 or 4.59%. The stock hit an intraday high of Rs.12.99 and low of Rs.12.42.

The total traded quantity was 1894 compared to 2 week average of 1214.

Source : Equity Bulls

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