ACIL Cotton Industries approves allotment of 10000000 equity shares

ACIL Cotton Industries Ltd has announced that the Board of Directors of the Company at its meeting held on February 17, 2010, inter alia, has approved allotment of 10000000 equity shares on preferential basis to promoters & others subject to approval of shareholders of company.

The Board also approved proposal to increase authorised capital from 7 crore to 12 Crore subject to approval of shareholders of company.

For taking necessary approvals of shareholders of the company an extra ordinary general meeting will be called on March 16, 2010.

The stock was trading at Rs.17.45, up by Rs.0.50 or 2.95%. The stock hit an intraday high of Rs.17.65 and low of Rs.16.75.

The total traded quantity was 24198 compared to 2 week average of 222926.

Source : Equity Bulls

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