India Securities to consider allotment of shares on May 29, 2009

India Securities Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 29, 2009, inter alia, to consider allotment of 40 lakh equity shares of Rs 10 each to Essar Investments Ltd at a premium of Rs 60, as per the clause 12.7 of the scheme of arrangement in the nature of demerger, approved by High court of Judicature at Bombay vide their order dated February 06, 2009.

The stock was trading at Rs.32.50, down by Rs.0.95 or 2.84%. The stock hit an intraday high of Rs.35.80 and low of Rs.30.30.

The total traded quantity was 21819 compared to 2 week average of 19405.

Source : Equity Bulls

Keywords