Oil Country Tubular cancels warrants issue

Oil Country Tubular Ltd has announced that the Board of Directors of the Company at its emergency meeting held on February 16, 2008, has resolved that the Extra Ordinary General Meeting proposed to be held on February 25, 2008 to consider issue of 1,07,10,470 Share Warrants to two allottees has been cancelled.

Further, the matter of raising Capital / Funds be reviewed and taken up at an appropriate time.

The stock was trading at Rs.88.30, up by Rs.3.75 or 4.44%. The stock hit an intraday high of Rs.88.60 and low of Rs.85.05.

The total traded quantity was 849 compared to 2 week average of 19376.

Source : Equity Bulls

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