Rei Agro to consider Rights issue

Rei Agro Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on September 09, 2009, to consider the following:

1. I of right shares (equity shares) to existing shareholders of the Company.

2. To decide the ratio of the issue .

The stock was up more than 10%, closing at 52.8 on the Bombay Stock Exchange (BSE). Total Traded Quantity was 2,516,707 as against a weekly average of 653,195. With the stock being much more nearer to the year lows (being 38) than most of the stocks on the bourses, this is an inexpensive buy in my opinion. The rights issue just adds more spice to the basmati rice producers' share. The stock was down due to the bad monsoons, and the related sentiments. The sentiment is seen to improve as we go ahead.
Uploaded at 9/07/2009 07:30:00 PM
by Chinmay
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