Lloyds Steel Industries to consider preferential issue to ARCIL

A meeting of the Board of Directors of Lloyds Steel Industries Ltd will be held on August 29, 2011, to consider and approve the Audited Financial Results of the Company for the period ended June 30, 2011 and appointment of Cost Auditor.

The Board will also consider issue of Equity Shares on preferential basis to Asset Reconstruction Company (India) Limited in accordance with SEBI and other applicable guidelines and subject to necessary approvals as may be required against part conversion of their loan.

The stock was trading at Rs.14.20, up by Rs.0.10 or 0.71%. The stock hit an intraday high of Rs.14.60 and low of Rs.14.

The total traded quantity was 1.25 lakhs compared to 2 week average of 3 lakhs.

Source : Equity Bulls

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