Max Ventures jumps 8% as cos' board to consider urgent business matter

NEW DELHI: Shares of Max Ventures and Industries climbed nearly 8 per cent after the company informed BSE that its board of directors would meet on Friday “to consider an urgent business matter.”

Following the announcement, the stock advanced 8.72 per cent to hit a high of Rs 74.80 on BSE.

The company said in pursuant of the company's code of conduct, the trading window for dealing in shares of the company, which is presently closed from January 27 until February 8, shall continue to remain closed for all designated persons.

The list included promoters, directors, key managerial personnel, designated employees and other connected persons till further communication.

The company’s board members in an EGM on Tuesday had increased authorized share capital of the company to Rs 110 crore from Rs 60 crore earlier. The company issued 1,55,23,870 shares to New York KLife Internationall Holdings on a preferential basis.

It also issued 34,48,894 shares to promoter entity Siva Enterprises on a propotional basis.

The promoter had hiked its stake in the company to 45.06 per cent in the December quarter from 40.40 per cent in the September quarter.