Pioneer Embroideries allots OCCROS worth Rs 30 crores

Pioneer Embroideries Ltd has announced that the Board of Directors of the Company at its meeting held on August 11, 2010, inter alia, has approved the allotment and issue of amounting upto Rs. 30.00 Crores Optionally Convertible Cumulative Redeemable Preference Shares (OCCROS) to Banks under CDR-EG approved scheme is deferred and will be taken up on later date.

The stock closed the day at Rs.30.85, down by Rs.1.30 or 4.04%. The stock hit an intraday high of Rs.33.30 and low of Rs.30.55.

The total traded quantity was 0.66 lakhs compared to 2 week average of 0.85 lakhs.

Source : Equity Bulls

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