JVL Agro board to consider pref issue on Feb 28

The proposal of making allotment of Convertible and/or Non-Convertible Securities to the qualified institutional buyers by way of QIP in terms of Chapter VIII of the SEBI (ICDR) Regulations, 2009.

Feb 25, 2016 10:02 IST India Infoline News Service

JVL Agro Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on February 28, 2016, inter alia, to transact, the following businesses:

1. The proposal of making Preferential Allotment of Equity Shares and/or Warrants in terms of Chapter VII of the SEBI (ICDR) Regulations, 2009.

2. The proposal of making allotment of Convertible and/or Non-Convertible Securities to the qualified institutional buyers by way of QIP in terms of Chapter VIII of the SEBI (ICDR) Regulations, 2009.

Stock view:

JVL Agro Industries Ltd ended at Rs. 16.25, down by Rs. 0.95 or 5.52% from its previous closing of Rs. 17.2 on the BSE.

The scrip opened at Rs. 17 and touched a high and low of Rs. 17.1 and Rs. 16.15 respectively. A total of 16578(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 272.84 crore.

The BSE group 'B' stock of face value Rs. 1 touched a 52 week high of Rs. 27.8 on 05-Jan-2016 and a 52 week low of Rs. 13 on 09-Jun-2015. Last one week high and low of the scrip stood at Rs. 18.7 and Rs. 15.15 respectively.

The promoters holding in the company stood at 55.25 % while Institutions and Non-Institutions held 13.45 % and 31.3 % respectively.

The stock traded above its 50 DMA.

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