Reliable Ventures withdraws warrants issue

Reliable Ventures India Ltd has announced that the Board of Directors of the Company at its meeting held on August 25, 2007 has considered and approved the proposal of withdrawal of proposed re-issue of 9.69 lacs forfeited equity shares.

Further the Company has informed that, the Board of Directors of the Company at its meeting held on April 30, 2007 has decided for withdrawal of the proposal for issue of 60.00 lacs convertible warrants @ Rs 81.50 per warrant.

The stock closed the day at Rs.39, up by Rs.1.85 or 4.98%. The stock hit an intraday high of Rs.39 and low of Rs.38. The total traded quantity was 150 compared to 2 week average of 2290.

Source : Equity Bulls

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