PSL to raise up to Rs 300 crore

PSL Ltd has announced that the Board of Directors of the Company at its meeting held on June 10, 2009, has considered and accorded their consent to raise long term funds for the Company up to Rs 300 Crores. The Board of Directors have given their in-principle approval to raise this amount in one or more trenches through different modalities including by way of issuance of securities by way of Qualified Institutional Placement(QIP).

The stock closed the day at Rs.131.30, down by Rs.6.85 or 4.96%. The stock hit an intraday high of Rs.143.95 and low of Rs.129.50.

The total traded quantity was 269217 compared to 2 week average of 359343.

Source : Equity Bulls

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