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Chennai, Oct. 18

Ashco Industries Ltd has informed the BSE that a meeting of the board of directors of the company will be held on October 29 to consider and approve financial results for the second quarter ended September. The meeting will also consider raising funds up to Rs 100 crore though issue of ADRs, GDRs or follow-on public issue to meet future expansion, forward integration and adding new analytical labs. Besides, it will consider a nationwide foray in the pathological labs secto r. The company already has a clinical lab in Mumbai and analytical labs in Mumbai, Hyderabad and Noida. Pathological labs are proposed, in the first stage, at existing sites as well as at Agra. The shares of the company closed at Rs 48, up 20 per cent, on the BSE on Thursday.

- Our Bureau

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