Kiri Dyes to consider raising Rs 500 crores on May 22, 2010

Kiri Dyes and Chemicals Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 22, 2010, for considering and approving to raise upto Rs. 500.00 crores by way of QIPs / FCCB / GDR / preferential allotment, Right issue / FPO for the expansion and diversification project, acquisition of Company and payment of debts of the Company.

The stock closed the day at Rs.665.45, down by Rs.0.75 or 0.11%. The stock hit an intraday high of Rs.699.90 and low of Rs.657.

The total traded quantity was 23182 compared to 2 week average of 6259.

Source : Equity Bulls

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