Fundraising Plan Catapults KS Oils

The announcement was made after market hours on Monday 12 September 2011.

Meanwhile, the BSE Sensex was up 195.16 points, or 1.18% at 16,696.90.

On BSE, the shares were traded in the counter 1.33 crore compared to the average volume of 49.98 shares lakh during the last two weeks.

In stock has reached a level of Rs 13.10 and low of Rs 11.40 so far during the day.

In a separate announcement, the company said its shareholders have approved to raise $ 150 million by issuing global depository receipts (GDR). The shareholders also approved increasing the authorized capital of Rs 90 crore company of Rs 60 crore.

In addition, a report suggests that the largest media commodities trader Glencore International AG may bid for oil KS. Swiss giant Glencore study a potential purchase off the face of KS Oils, the report said.

On August 17, 2011, the company announced that Ramesh Chand Garg, president of the company, sold 1.29 shares crore or 3.05% stake in the company by the free market August 12, 2011. After the transaction was Ramesh Chand Garg stocks fell to 8.23% from 11.28% in the company. Since June 30, 2011, promoters held 30.72% of KS Oils NRI Pan Card.

On a consolidated basis, net income for KS Oils’ fell by 21.4% and R 36.98 crore is equal to 19.8% sales growth in the RS 1062.94 crore in Q4 March 2011 over 4th March 2010 quarter.

KS Oil is an integrated oil company edible. It makes the mustard oil, soya and palm oil. Its brands include Kalash, Double Sher and CS Gold, among others. In India, KS Oils has a market share of 11% of the segment of mustard oil with a total market leader by 25% mustard oil into the dominant brand NRI demat account.


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