Oriental Carbon to issue convertible warrants

Oriental Carbon & Chemicals Ltd has announced that the Board of Directors of the Company at its meeting held on March 29, 2007, has proposed for approval of the shareholders of the Company to issue Convertible Warrants covering upto 14,50,000 Equity Shares on preferential basis to the persons falling in the category of promoter group.

Shares of the company closed at Rs.31.40, down by Re.0.85 or 2.64% on volume of 2551 shares compared to 2 week average quantity of 8801 shares. The stock had an intraday high of Rs.31.50 and low of Rs.28.

Source : Equity Bulls

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