Aarvee Denims approves early redemption of preference shares

Aarvee Denims & Exports Ltd has announced that the Board of Directors of the Company at its meeting held on December 22, 2009, inter alia, has considered and approved the proposal of early redemption of remaining 74,95,670 13% Cumulative redeemable non convertible preference share and approved the proposal of payment of interim dividend @ 3.25% on 74,95,670 13% Cumulative redeemable non convertible preference shares for period December 2009.

The stock closed the day 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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