Nitin Fire to raise US$ 50 million

Nitin Fire Protection Industries Ltd has announced that the Board of Directors of the Company at its meeting held on June 04, 2009, inter alia, has decided subject to the approval of the Shareholders, to issue further capital upto USD 50 Million (United States Dollars Fifty Million only) or its Indian Rupee equivalent through QIP / FCCB / GDR / Preferential Allotment.

The stock was closed the day at Rs.312.45, up by Rs.11.55 or 3.84%. The stock hit an intraday high of Rs.318 and low of Rs.295.

The total traded quantity was 68363 compared to 2 week average of 169437.

Source : Equity Bulls

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