Ruchi Strips to consider allotment of preference shares on Nov 28, 2009

Ruchi Strips & Alloys Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 28, 2009, inter alia, to consider and approve the proposed reclassification of the existing Authorized Share Capital of the Company and to Allot 5% Non Cumulative Redeemable Preference Shares of the Company.

The Board will also approve proposed preferential issue of Equity Shares of the Company to promoters, their affiliates and others.

The stock closed the day at Rs.12.77, up by Rs.0.38 or 3.07%. The stock hit an intraday high of Rs.12.90 and low of Rs.11.80.

The total traded quantity was 8726 compared to 2 week average of 9478.

Source : Equity Bulls

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