Orient Paper & Industries allots 1,20,00,000 shares

Pursuant to the Resolution adopted by the Committee of Directors of Orient Paper & Industries Ltd at its meeting held on February 23, 2012, the Company have allotted 1,20,00,000 Equity Shares of Re. 1/- each consequent upon conversion of 1,20,00,000 convertible warrants to the Promoter Companies.

The allottees include Central India Industries Ltd (95,00,000 shares) and Shekhavati Investments and Traders Ltd. (25,00,000 shares).

The stock closed the day at Rs.57.45, down by Rs.0.75 or 1.29%. The stock hit an intraday high of Rs.60 and low of Rs.57.30.

The total traded quantity was 6783 compared to 2 week average of 49753.

Source : Equity Bulls

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