Punjab Chemicals to consider raising funds on Jan 13, 2010

Punjab Chemicals & Crop Protection Ltd has announced that a meeting of the Board of Directors of the Company will be held on January 13, 2010, inter alia, to consider various Options to raise long term resources through strategic investors in the domestic as well as overseas subsidiaries by way of Private Equity / Placement / Right Issue / Issue of Warrants / Debts Instruments / Structured Debt / GDR / FCCB and such other instruments subject to the provisions of the Companies Act, 1956 all other laws and regulations including FEMA, guidelines issued by SEBI and provisions of Memorandum and Articles of Association of the Company.

The stock was trading at Rs.183, up by Rs.7.35 or 4.18%. The stock hit an intraday high of Rs.189.45 and low of Rs.176.

The total traded quantity was 56167 compared to 2 week average of 14863.

Source : Equity Bulls

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