Syncom Formulations to consider preferential issue on June 30, 2010

Syncom Formulations India Ltd has announced that a meeting of the Board of Directors of the Company will be held on June 30, 2010, to consider the allotment of Equity Shares / Warrants of Rs. 10/- (Rupees Ten only) each by way of preferential allotment, at a premium of Rs. 18 (Rupees Eighteen only) per Equity Share to the promoter group and strategic investors in accordance with SEBI (ICDR) Regulations, 2009.

The stock closed the day at Rs.34.50, up by Rs.1.40 or 4.23%. The stock hit an intraday high of Rs.34.50 and low of Rs.32.50.

The total traded quantity was 12214 compared to 2 week average of 18217.

Source : Equity Bulls

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