Ucal Fuel to consider preferential issue on July 25, 2009

Ucal Fuel Systems Ltd has announced that consequent to the decision of the Board of Directors at the meeting held on April 13, 2009, to issue equity shares to promoters / promoter group of the Company on a preferential allotment basis subject to SEBI approval, a Board Meeting is proposed to be held on July 25, 2009 to secure the Board's approval to convene an EGM on August 19, 2009 for the purpose of obtaining the member's approval for preferential allotment of equity shares to promoters / promoter group as intimated earlier.

The stock closed on Friday at Rs.38.30, up by Rs.1.45 or 3.93%. The stock hit an intraday high of Rs.39.60 and low of Rs.37.

The total traded quantity was 11276 as compared to 2 week average of 2545.

Source : Equity Bulls

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