Dharani Sugars to issue 40 lakh shares to promoter group

Dharani Sugars & Chemicals Ltd has announced that the Board of Directors of the Company at its meeting held on July 21, 2009, has approved a proposal for issue of 40 lakh equity shares of Rs 10/- each to the promoter group consisting of Dr. Palani G Periasamy and his family/associates / Companies, and to a few individuals / institutional investors. The resolutions seeking approval of the shareholders for this issue will be placed for consideration at the Annual General Meeting called to be held on August 24, 2009. The price for the shares to be allotted will be fixed in accordance with SEBI (Disclosure and Investors Protection) Guidelines 2000 (Chapter 13).

The stock closed the day at Rs.40.85. The stock hit an intraday high of Rs.42.70 and low of Rs.40.20.

The total traded quantity was 14418 compared to 2 week average of 19644.

Source : Equity Bulls

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