IFB Industries Ltd drops preferential issue to Promoters

The Board of Directors of IFB Industries Ltd at its meeting held on November 23, 2011 after discussion agreed to drop the resolution for issue of equity shares to promoter group companies.

The stock was trading at Rs.70.20, down by Rs.2.70 or 3.70%. The stock hit an intraday high of Rs.73.95 and low of Rs.69.50.

The total traded quantity was 3349 compared to 2 week average of 10110.

Source : Equity Bulls

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