Shree Precoated equity shareholders & secured creditors approve Scheme of Amalgamation

Shree Precoated Steels Ltd has announced that the Equity Shareholders and the Secured Creditors of the Company at their respective Court Convened Meetings held on May 15, 2007, have approved the amalgamation embodied in the Scheme of Amalgamation between the Company and Anik Development Corporation Pvt Ltd (ADCPL) by an overwhelming majority.

The stock was trading at Rs.354.50, up by Rs.1.25 or 0.35%. The stock hit an intraday high of Rs.365 and low of Rs.352.90. The total traded quantity was 25043 compared to 2 week average of 118608.

Source : Equity Bulls

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