JMC Projects approves preferential issue to Kalpataru Power

JMC Projects (India) Ltd has announced that the Board of Directors of the Company at its meeting held on October 06, 2010, inter alia, has decided and approved preferential issue of 43,50,000 equity shares of Rs. 10/- each to Kalpataru Power Transmission Ltd (One of the Promoters of the Company) at a price of Rs. 207/- per equity share subject to approval of members and in compliance with applicable provisions of Companies Act, 1956, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and any other applicable Law.

The Board also approved Notice of Extra Ordinary General Meeting of members of the Company, to be held on November 6, 2010.

The stock closed the day at Rs.226.15, up by Rs.9.50 or 4.38%. The stock hit an intraday high of Rs.228.50 and low of Rs.221.75.

The total traded quantity was 2.35 lakhs compared to 2 week average of 0.78 lakhs.

Source : Equity Bulls

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