Andhra Cements has soared 8% to Rs 19.20 ahead of the board meeting today to consider and approve the allotment of equity shares to HDFC & IDFC on a preferential basis.

“The company will issue the shares as per terms of the Resolution passed by the shareholders at the Annual General Meeting (AGM) held on August 30, 2010,&" Andhra Cements said in its filing to the exchanges.

The stock of Andhra Cements opened at Rs 18.10. There have been huge volumes on the counter, with as many as 546,000 shares changing hands since morning as against an average 95,000 shares traded daily in the past two weeks.