Autolite India Ltd approves conversion of warrants

The Board of Directors of Autolite (India) Ltd at its meeting held on January 15, 2015, has approved the conversion of 5,55,000 warrants into 5,55,000 equity shares of Rs. 10/- each at a premium of Rs. 4/- per share upon receipt of balance 75% consideration out of 727,500 warrants balance for conversion out of total 1125000 warrants issued to the promoters on preferential basis on October 16, 2013.

The Board renewed the appointment of Shri. Mahipal Gupta as Managing Director for a period of five years w.e.f. January 1, 2015 on revised remuneration and also renewed the appointment of Shri. Amit Mahipal Gupta as Whole-time Director for a period of five years w.e.f. January 1,2015 on revised remuneration.

Shares of AUTOLITE (INDIA) LTD. was last trading in BSE at Rs.34.4 as compared to the previous close of Rs. 35.85. The total number of shares traded during the day was 11264 in over 142 trades.

The stock hit an intraday high of Rs. 36.25 and intraday low of 33.85. The net turnover during the day was Rs. 390781.

Source : Equity Bulls

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