ELF Trading approves issue of preference shares

ELF Trading & Chemicals Manufacturing Ltd has announced that the Board of Directors of the Company at its meeting held on March 16, 2010, have decided subject to the approval of shareholders at the Extra-ordinary General meeting scheduled to be held on April 12, 2010, to issue 900000 8% Redeemable Cumulative Preference Shares on a private placement basis and to increase the Authorised Capital of the Company and make necessary amendments to the Memorandum and Articles of Association of the Company for the aforesaid purpose.

The stock was trading at Rs.108.80, up by Rs.5.15 or 4.97%. The stock hit an intraday high of Rs.108.80 and low of Rs.108.80.

The total traded quantity was 50 compared to 2 week average of 50.

Source : Equity Bulls

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