Electrosteel Castings to allot 87 Lakh warrants

Electrosteel Castings Ltd has announced that the Board of Directors has by circulation, subject to approval of shareholders, accorded its consent to the issue of upto 20,30,000 equity shares of Re 1/- each and upto 87,00,000 warrants to a Non-Promoter Company on a preferential basis at a price to be determined as per SEBI (DIP) Guidelines, 2000.

The Ordinary General Meeting has been called on December 15, 2007 for the said purpose.

The stock closed the day at Rs.68.15, down by Rs.5.40 or 7.34%. The stock hit an intraday high of Rs.74 and low of Rs.66.20.

The total traded quantity was 2499170 compared to 2 week average of 2309995.

Source : Equity Bulls

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