Welspun Corp Ltd grants 2050029 stock options to MD

The Nomination and Remuneration Committee recommended, and the Board of Directors of Welspun Corp Ltd resolved, at their respective meeting held on December 20, 2014 that the Company, in terms of the board resolution dated April 26, 2012 and the resolution passed by the members of the Company on August 06, 2012 to grant/issue to the Managing Director, Mr. Braja Mishra 2,050,029 Stock Options carrying option to subscribe to 2,050,029 equity shares of Rs. 5 each fully paid-up at the exercise price of Re. 1 per share which shall be exercisable after the first anniversary of the date of grant of then Option; and 227,781 equity shares as Sweat Equity shares free of cost.

Shares of Welspun Corp Limited was last trading in BSE at Rs.68.75 as compared to the previous close of Rs. 68.65. The total number of shares traded during the day was 22298 in over 641 trades.

The stock hit an intraday high of Rs. 71.4 and intraday low of 68.15. The net turnover during the day was Rs. 1542011.

Source : Equity Bulls

Keywords