S.Kumars Nationwide to raise US$75 million

S.Kumars Nationwide Ltd has clarified with reference to the earlier annoucement dated July 02, 2009, that the current planned QIP is to raise about US$ 75 million (approximately Rs 360 Crores) and not Rs 1000 Crores as reported in some sections of the press. As a consequence, the Company is going in for an enabling resolution for Rs 500 Crores.

The stock closed the day at Rs.33.90, down by Rs.2.30 or 6.35%. The stock hit an intraday high of Rs.36.80 and low of Rs.33.05.

The total traded quantity was 363403 compared to 2 week average of 728042.

Source : Equity Bulls

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