Broadcast Initiatives to allot 6 million shares

Broadcast Initiatives Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 13, 2010, inter alia, to consider and approve the allotment of 60,00,000 Equity Shares on preferential basis to HDIL Infra Projects Pvt. Ltd.

The Board will also approve appointment of Directors and reconstitution of various committee of the Board.

The stock closed the day at Rs.16.90, up by Rs.0.15 or 0.90%. The stock hit an intraday high of Rs.17.60 and low of Rs.16.40.

The total traded quantity was 8282 compared to 2 week average of 8344.

Source : Equity Bulls

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