Valecha Engineering to capitalize Rs 42,394,500 for bonus
Valecha Engineering to capitalize Rs 42,394,500 for bonus
Valecha Engineering informed that, the members at the annual general meeting (AGM) of the company held on Sep. 3, 2007, accorded to capitalise upto Rs 42,394,500 out of “Reserves & Surplus“ and transfer to the Share Capital Account towards the issue and allotment of 4,239,450 equity shares of Rs 10 each credited as fully paid-up bonus shares.
The company fixed October 5 as the record date for the bonus issue of shares in the ratio of 1:2 (i.e 1 fully paid share for every two shares held).
Valecha Engineering registered 47.89% growth in net profit at Rs 35.76 million for the quarter ended June 2007 from Rs 24.18 million, for the quarter ended June 2006.
Shares of the company were last trading down Rs 2.20, or 0.77%, to Rs 283.8. The total volume of shares traded was 2,058 at the BSE. ( 10.26 a.m, Tuesday)
