Birla Power Solutions approves raising funds upto Rs 500 crores

Birla Power Solutions Ltd has announced that the Board of Directors of the Company at its meeting held on March 25, 2010, has considered and approved the increase in authorized share capital from Rs. 100 crores to Rs. 300 crores, subject to the consent of the members of the Company by way of postal ballot.

The Board also approved raising of funds by issue of GDRs/ADRs/FCCBs and Equity shares and any other instruments convertible into Equity shares under Section 81 (1A) at the Companies Act, 1956 upto a sum of Rs. 500 Crores.

The stock was trading at Rs.3.55, up by Rs.0.02 or 0.57%. The stock hit an intraday high of Rs.3.73 and low of Rs.3.50.

The total traded quantity was 9817289 compared to 2 week average of 6815634.

Source : Equity Bulls

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