Insutech India to consider preferential issue on Jan 18, 2010

Insutech India Ltd has announced that a meeting of the Board of Directors of the Company will be held on January 18, 2010, inter alia, to consider the proposal to de-list Company's shares from Jaipur Stock Exchange Ltd., The Calcutta Stock Exchange Ltd., And Ahmedabad Stock Exchange Ltd.

The Board will consider the proposal to increase the authorized capital of the Company from Rs. 10,00,00,000/- (Rupees Ten crores only) to Rs. 18,00,00,000/- (Rupees Eighteen Crores only) and alteration of Memorandum and Articles of Association in this respect.

The Board will consider the proposal for issue of shares on preferential basis to promoter and non promoters at a price not less than Rs. 10/- per share.

The Board will also fix the date and Venue of Extra Ordinary General Meeting.

The stock closed the day at Rs.6.68, up by Rs.0.31 or 4.87%. The stock hit an intraday high of Rs.6.68 and low of Rs.6.68.

The total traded quantity was 2335 compared to 2 week average of 99149.

Source : Equity Bulls

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