Ugar Sugar Works – Rights issue

Flashnews: The board of Ugar Sugar Works has discussed the matter of rights issue and recommended rights shares in the ratio of 1 share for every 4 shares held at a premium of Rs 7 per share (total Rs 8 per share including premium) subject to the approval of the shareholders in the general body meeting to be held on 28 September 2007.

All the sugar stocks including Balrampur Chini and Bajaj Hindustan have turned sour when it comes to their price – quoting almost at their 52 week lows.