Kanchan International Ltd allots 3,10,531 shares

The meeting of the Board of Directors of Kanchan International Ltd was continued from March 30, 2012 and held on March 31, 2012, has allotted 3,10,531 equity shares of Rs. 10/- each at a Rs. 26 per share, pursuant to conversion of 3,10,531 fully convertible Equity Share Warrants out of total outstanding 25,00,000 fully convertible Equity Share Warrants issued in the Extra-ordinary General Meeting held on September 24, 2010.

The Kanchan International Ltd stock was trading at Rs.65.25, down by Rs.1.95 or 2.90%. The stock hit an intraday high of Rs.70.55 and low of Rs.64.05.

The total traded quantity was 0.27 lakhs compared to 2 week average of 0.55 lakhs.

Source : Equity Bulls

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