Opto Circuits to consider raising funds on Jun 03, 2009

Opto Circuits India Ltd has announced that a meeting of the Board of Directors of the Company will be held on June 03, 2009, inter alia, to consider raising funds through issue of equity shares / GDRs / ADRs / FCCBs / convertible share warrants and / or such other securities either through preferential issue and / or qualified institutional placement and / or private placement etc.

The Board will also consider proposal to increase the borrowing powers of the Board of Directors and to increase the Investment / Loans / guarantee limits under Sec 372(A) of the Companies Act 1956.

The stock was trading at Rs.160.30, down by Rs.5.15 or 3.11%. The stock hit an intraday high of Rs.167 and low of Rs.159.05.

The total traded quantity was 283389 compared to 2 week average of 517668.

Source : Equity Bulls

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