Gem Spinners India approves preferential issue

The Board of Directors of Gem Spinners India Ltd at its meeting held on February 10, 2011, inter alia, has considered and approved the issue of 2,50,00,000 Equity Shares to Promoters under preferential allotment basis on Postal Ballot process.

The stock was trading at Rs.2.22. The stock hit an intraday high of Rs.2.22 and low of Rs.2.22.

The total traded quantity was 900 compared to 2 week average of 2800.

Source : Equity Bulls

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