Minda Industries approves preferential issue of CCPS

Minda Industries Ltd has announced that the Board of Directors of the Company at its meeting held on February 17, 2010, has approved the preferential allotment of 1,83,500 (One Lac Eighty Three Thousand Five Hundred) 3% Cumulative Compulsorily Convertible Preference Shares of Rs. 2187/- each and 35,00,000 (Thirty Five Lacs) 3% Cumulative Redeemable Preference Shares of Rs. 10/- each.

The Board has also approved the appointment of Mr. Rakesh Sony as Additional Director on the Board of the Company with effect from February 17, 2010.

The stock closed the day at Rs.327.15, up by Rs.1.95 or 0.60%. The stock hit an intraday high of Rs.342.90 and low of Rs.322.

The total traded quantity was 54053 compared to 2 week average of 32326.

Source : Equity Bulls

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