Balaji Amines Board approves 5:1 stock split
Balaji Amines Ltd has announced that the Board of Directors of the Company at its meeting held on July 29, 2010, inter alia, has approved the proposal to subdivide each and every one of the issued equity shares of the Company of the nominal value of Rs. 10/- (Rs. Ten) each fully paid up into 5 (Five) equity shares of Rs. 2/- (Rs. Two) each fully paid up subject to the approval of members of the Company at the ensuing Annual General Meeting.
The Board approved proposal to conduct Postal Ballot under Section 192A of the Companies Act seeking approval of Members for creating Mortgage and/or charge on movable and immovable properties of the Company under Section 293 1(a) of the Companies Act, 1956.
The Board appointed Mr. P. S. RAO, Practicing Company Secretary, Hyderabad as Scrutinizer for conducting postal ballot for the above matters.
The Board also approved the Calendar of events for postal ballot and authorized Mr. G. Hemanth Reddy, Director of the Company for carrying out the above mailers.
The stock closed the day at Rs.175.55, down by Rs.1.90 or 1.07%. The stock hit an intraday high of Rs.181 and low of Rs.174.25.
The total traded quantity was 11581 compared to 2 week average of 8989.
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