Concurrent to raise funds through Preferential Issue at Rs 15 for acquisition of land for logistics business

Concurrent (India) Infrastructure Ltd has announced that the Company has identified land of 25 acres near Hyderabad City for the purpose of setting up logistics supply chain and the Company proposed to come out with a preferential issue at Rs. 15/- share for the purpose of acquisition of land for logistics business. Company's Board of Directors is scheduled to meet on December 14, 2009 to decide on EGM date for the said preferential issuance.

The stock was trading at Rs.11, up by Rs.0.24 or 2.23%. The stock hit an intraday high of Rs.11.20 and low of Rs.10.50.

The total traded quantity was 188148 compared to 2 week average of 135499.

Source : Equity Bulls

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