JBF Industries approves QIP issue

JBF Industries Ltd has announced that the Committee of Board of Directors for Qualified Institutions Placement of the Company at their Meeting held on September 15, 2010, have passed the resolution approving the opening of Qualified Institutions Placement (QIP) issue on September 20, 2010, subject to necessary provisions and approvals., The relevant date for the purpose of QIP is September 15, 2010.

The floor price and the price band for the purpose of the aforesaid QIP issue will be determined at the next committee meeting.

The stock closed the day at Rs.161.45, down by Rs.5 or 3%. The stock hit an intraday high of Rs.167.45 and low of Rs.159.30.

The total traded quantity was 6 lakhs compared to 2 week average of 6.21 lakhs.

Source : Equity Bulls

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