Hinduja Foundries to raise capital

Hinduja Foundries Ltd has announced that the Board of Directors of the Company at its meeting held on June 19, 2009, has decided to raise further capital by way of issue of 1,00,55,749 Equity shares of Rs 10/- each at a premium of Rs 40/- aggregating to Rs 50.28 crores to the existing shareholders on Rights basis in the ratio of 7 equity shares for every 13 equity shares presently held, subject to approval of the shareholders.

The stock closed the day at Rs.65.50, down by Rs.3.40 or 4.93%. The stock hit an intraday high of Rs.72.30 and low of Rs.65.50.

The total traded quantity was 227 compared to 2 week average of 1319.

Source : Equity Bulls

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