Ruchi Strips to consider allotment of shares on Oct 04, 2010

Ruchi Strips & Alloys Ltd has announced that a meeting of the Board of Directors of the Company will be held on October 04, 2010, inter alia, to consider and allot 1,10,95,701 Equity Shares of Rs. 10/- each at a premium of Rs. 4.42 per share for cash to promoter and non- promoter group on preferential basis.

The Board will also consider proposal to redeem 16,00,000, 5% Non-cumulative Redeemable Preference Shares.

The stock closed the day at Rs.16.59, up by Rs.0.30 or 1.84%. The stock hit an intraday high of Rs.16.85 and low of Rs.15.80.

The total traded quantity was 0.42 lakhs compared to 2 week average of 1.73 lakhs.

Source : Equity Bulls

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