Simbhaoli Sugars repurchases FCCBs worth $ 4.5 million

Simbhaoli Sugars Ltd has announced that the Finance Committee of the Board of Directors of the Company at its meeting held on September 22, 2009, has approved the cancellation / extinguishment of further USD 4.50 million, 0% Foreign Currency Convertible Bonds (FCCBs) issued by the Company in March 2006, under the guidelines of Reserve Bank of India for this purpose.

The stock was trading at Rs.57.50, up by Rs.1.65 or 2.95%. The stock hit an intraday high of Rs.58.20 and low of Rs.55.30.

The total traded quantity was 52995 compared to 2 week average of 41387.

Source : Equity Bulls

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