Koutons Retail (India) has surged 6% at Rs 20.65 in otherwise weak market after the company said its board will meet on August 26, to consider issue of shares to its promoters on the preferential basis.
 
“The board of directors of the company will be held on August 26, 2011, to discuss about the preferential issue of equity shares to promoters and others (if any)," the company said in a filing to the stock exchanges.
 
The board will also approve the draft Director’s report of DBG Retail Holdings Ltd for the FY 2010-11, it added.
 
The stock hit a high of Rs 21.70 after opening at Rs 19.50 on the Bombay Stock Exchange (BSE). The trading volumes have jumped almost three-fold with 150,000 shares changing hands till 1428 hours, as against an average around 57,000 shares traded daily in past two weeks.