Fortune Financial to raise funds

Fortune Financial Services India Ltd has announced that the Board of Directors of the Company at its meeting held on October 29, 2009, inter alia, has considered the issue of equity shares through Rights, Private Placement, Preferential Offer, QIPs, FCCD and the internal Finance Committee of the Board to decide various aspects relating to the issue of equity shares.

The Board also considered the application to be made to the Central Government for availing exemption to include the accounts of subsidiary Companies with that of the Holding Company for the financial year ended March 31, 2009 u/s 212 (8) of the Companies Act, 1956.

The stock was trading at Rs.60.80, down by Rs.3.15 or 4.93%. The stock hit an intraday high of Rs.61 and low of Rs.60.80.

The total traded quantity was 121 compared to 2 week average of 2665.

Source : Equity Bulls

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