Anik Industries to raise $60 million

Anik Industries Ltd has announced that the Board of Directors of the Company at its meeting held on April 01, 2010, inter alia, has decided to raise funds not exceeding US$ 60 millions for the proposed projects of the Company through various options like issuance of Global Depository Receipts (GDRs), Qualified Institutional Placement (QIP), Foreign Currency Convertible Bonds (FCCB) etc. with the approval of the shareholders in General Meeting.

The stock closed the day at Rs.67.70, up by Rs.11.25 or 19.93%. The stock hit an intraday high of Rs.67.70 and low of Rs.54.70.

The total traded quantity was 120862 compared to 2 week average of 21075.

Source : Equity Bulls

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