Setco Automotive allots 61199 shares under Employee Stock Option Plan 2010

The Remuneration Committee of the Board of Directors of Setco Automotive Ltd at its meeting held on April 10, 2012 allotted 61,199 (Sixty One Thousand One Hundred and Ninety Nine) Equity Shares of face value of Rs. 10/- each under the Company's Employee Stock Option Plan, 2010. The said 61,199 Shares shall rank pari passu with the existing equity shares of the Company in all respects.

Consequent to the said allotment, the equity share capital of the Company stands increased from Rs 176,437,600/- divided into 17,643,760 equity shares of face value Rs. 10/- each to Rs 177,049,590/- divided into 17,704,959 equity shares of face value of Rs 10/- each.

The Setco Automotive stock was trading at Rs.208, up by Rs.2.50 or 1.22%. The stock hit an intraday high of Rs.209.85 and low of Rs.201.50.

The total traded quantity was 1974 compared to 2 week average of 50052.

Source : Equity Bulls

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