Finance Update

NRB Industrial Bearings rises 2% on preferential allotment to Chairman

Last Updated : Mar 29, 2019 02:24 PM IST | Source: Moneycontrol.com






The company said that 17,50,000 cumulative, redeemable, non-convertible preference shares of Rs 10 each were allotted to Devesh Singh Sahney.












Shares of NRB Industrial Bearings gained more than 2 percent intraday on March 29 after the Board of the ball and roller bearing manufacturer approved the allotment of preference shares worth Rs 1.75 crore to Devesh Singh Sahney, Chairman and promoter of the company.

The company in its BSE release informed that 17,50,000 cumulative, redeemable, non-convertible preference shares of Rs 10 each were allotted to Sahney.

The share touched its 52-week high of Rs 33.10 and 52-week low of Rs 16.75 on 13 August 2018 and 6 June 2018, respectively.

At 14:09 hrs, NRB Industrial Bearings was quoting at Rs 19.50, up 2.36 percent on the BSE.



First Published on Mar 29, 2019 02:24 pm









































Source

Prakash Poojary
Business Analyst

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