Marsons approves increase in authorised capital, to raise funds

Marsons Ltd has announced that the Board of Directors of the Company at its meeting held on January 30, 2010, inter alia, has decided to increase the Authorised Capital of the Company from 18 Crore to 20 Crore by creation of further 20 Lacs Equity Shares of Rs. 10/- each.

The Board approved proposal to issue 20 Lacs Equity Shares of Rs. 10/- each of the Company to the Promoters and Non-Promoters entities on Preferential basis.

The Board also approved proposal to convene and conduct an Extra Ordinary General Meeting of the members of the Company on February 27, 2010, for the aforesaid purpose.

The stock closed the day at Rs.23.55, up by Rs.0.40 or 1.73%. The stock hit an intraday high of Rs.23.80 and low of Rs.21.20.

The total traded quantity was 67167 compared to 2 week average of 219666.

Source : Equity Bulls

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