NCC Ltd Board approves raising of funds

The Board of Directors of NCC Ltd at its meeting held today, approved raising of funds by way of issue of securities including, but not limited to Equity Shares and/or American Depository Receipts and/or Global Depository Receipts and/or any other securities convertible into Equity Shares, through qualified institutional placement (*QIP") / Rights Issue/ follow on public offering or any other permissible mode or any combination thereot as may be permissible under applicable laws, subject to approval of the members of the Company, to the extent required and other appropriate approvals, for an aggregate amount up to Rs. 550 crores (Rupees Five hundred and fifty crore only).

The meeting of the Board of Directors of the Company commenced at 4 p.m. and concluded at 4.45 p.m.

Shares of NCC Limited was last trading in BSE at Rs.118.8 as compared to the previous close of Rs. 120.65. The total number of shares traded during the day was 338999 in over 1845 trades.

The stock hit an intraday high of Rs. 122.4 and intraday low of 118.25. The net turnover during the day was Rs. 40788237.

Source : Equity Bulls

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