Gujarat Sidhee Cement (GSCL) said that the board of directors of the company has allotted 12,00,000 equity shares of Rs 10 each fully paid-up to Gujarat Industrial Investment Corporation (GIIC), a promoter company of GSCL, in compliance to the order dated Dec. 06, 2012 of BIFR.
These shares shall rank pari passu in all respects with the existing equity shares.
The stock had underperformed the market over the past one month till Sep. 04, 2014, falling 29.54% compared with the Sensex's 5.30% rise. It outperformed the market in past one quarter, gaining 131.55% as against 9.19% rise in the Sensex.
Shares of the company gained Rs 0.3, or 0.75%, to settle at Rs 40.30. The total volume of shares traded was 61,516 at the BSE (Friday).