Aarvee Denims to approve redemption of preference shares on Dec 22, 2009

Aarvee Denims & Exports Ltd has announced that a meeting of the Board of Directors of the Company will be held on December 22, 2009, inter alia, to approve early redemption of remaining 74,95,670 13% Cumulative redeemable non convertible preference shares and to declare interim dividend @ 3.25% on 74,95,670 13% Cumulative redeemable non convertible preference shares for period December 2009.

The stock was trading at Rs.61.50, down by Rs.0.40 or 0.65%. The stock hit an intraday high of Rs.62.25 and low of Rs.61.

The total traded quantity was 8370 compared to 2 week average of 2294.

Source : Equity Bulls

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