Hindustan Dorr-Oliver to raise $50 million

Hindustan Dorr-Oliver Ltd has announced that the Board of Directors of the Company at its meeting held on March 19, 2010, inter alia, has accorded approval for raising the funds through issue of equity shares / GDRs / ADRs / FCCBs and/or any other financial instruments convertible in to equity shares including fully / partly convertible debentures, bonds, warrants and/or such other securities for an amount not exceeding 50.00 million USD either through preferential issue and/or qualified institutional placement and/or private placement / public offering or any combination thereof etc.

The stock was trading at Rs.101.50, down by Rs.0.45 or 0.44%. The stock hit an intraday high of Rs.104.80 and low of Rs.100.25.

The total traded quantity was 155437 compared to 2 week average of 78392.

Source : Equity Bulls

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