Birla Power to consider raising funds on Jun 29, 2009

Birla Power Solutions Ltd has announced that a meeting of the Board of Directors of the Company will be held on June 29, 2009, inter alia, to consider and approve the increase in authorized share capital and consequent amendments in Memorandum and Articles of Association of the company.

The Board will consider raising of funds by way of issue of equity shares / securities convertible into equity shares, in domestic and / or international markets, subject to approval of shareholders under Section 81 (1A) of the Companies Act, 1956.

The Board will also consider fixing the date, time and venue of the Annual General Meeting.

The stock closed the day at Rs.3.51, down by Rs.0.11 or 3.04%. The stock hit an intraday high of Rs.3.58 and low of Rs.3.44.

The total traded quantity was 2593003 compared to 2 week average of 3018167.

Source : Equity Bulls

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