Advanta India EGM to consider increase of FII limit to 49%

Advanta India Ltd has announced that an Extra-Ordinary General Meeting (EGM) of the members of the Company will be held on May 28, 2007, to increase the ceiling limit on total holdings of Foreign Institutional Investors / SEBI approved sub-account of Foreign Institutional Investors from 24% to 49% of the paid-up equity capital of the Company, subject to necessary provisions and approvals.

The stock closed the day at Rs.811.25, down by Rs.1.85 or 0.23%. The total traded quantity was 103982 compared to 2 week average of 483145. The stock hit an intraday high of Rs.825 and low of Rs.775.

Source : Equity Bulls

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