Orissa Sponge to issue shares, warrants

Orissa Sponge Iron & Steel Ltd has announced that a meeting of the Board of Directors of the Company will be held on December 20, 2007, inter alia, to consider the the allotment of 55 lacs nos. of Equity Shares and 1,05,00,000 warrants convertible into the same no of Equity Shares.

The stock was trading at Rs.555.15, up by Rs.5.95 or 1.08%. The stock hit an intraday high of Rs.559.80 and low of Rs.536.

The total traded quantity was 3851 compared to 2 week average of 11993.

Source : Equity Bulls

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