Autolite India Ltd approves conversion of 600000 warrants

The Board of Autolite India Ltd has approved the conversion of 600000 warrants of Rs. 18/- each into 600000 equity shares of Rs. 10/- each at premium of Rs. 8/- per share upon receipt of balance 75% consideration. The allotment was done to Promoters and Promoters Group and also to one Strategic Investor.

The Board also approved the continuation of office of Managing Director by Shri Mahipal Gupta on attaining the age of 70 years on September 13, 2017 subject to the shareholders'approval through postal ballot and e-voting.

Shares of AUTOLITE (INDIA) LTD. was last trading in BSE at Rs.53.2 as compared to the previous close of Rs. 53.2. The total number of shares traded during the day was 4063 in over 36 trades.

The stock hit an intraday high of Rs. 53.6 and intraday low of 53. The net turnover during the day was Rs. 216228.

Source : Equity Bulls

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