Sri Ganapathy Mills to allot 5 lakh shares at Rs.20

Sri Ganapathy Mills Company Ltd has announced that the Board of Directors of the Company at its meeting held on December 16, 2010, approved the proposal to allot 5,00,000 Equity Shares of Rs.10 each at premium of Rs. 10 per share to M/s Loyal Credit and Investments Ltd.

The Board also approved to conduct the EGM on January 21, 2011 to approve the allotment on preferential basis for the above said party.

The stock was trading at Rs.12.60, up by Rs.0.60 or 5%. The stock hit an intraday high of Rs.12.60 and low of Rs.12.60.

The total traded quantity was 100 compared to 2 week average of 5353.

Source : Equity Bulls

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