Nicco Corporation to consider allotment of 11900000 shares on Sep 14, 2010

Nicco Corporation Ltd has announced that a Meeting of the Committee of Directors of the Company will be held on September 14, 2010, to consider Preferential Allotment of 1,19,00,000 Equity Shares of Rs. 2/- each of the Company @ Rs. 6.12 per share for an aggregate amount of Rs. 7.28 crores, to Asset Reconstruction Company (India) Ltd. ("Arcil").

The stock was trading at Rs.5.81, up by Rs.0.62 or 11.95%. The stock hit an intraday high of Rs.5.94 and low of Rs.5.

The total traded quantity was 3.08 lakhs compared to 2 week average of 0.35 lakhs.

Source : Equity Bulls

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