Core Projects to allot 450000 warrants to PE firm at Rs 305

Core Projects & Technologies Ltd has announced that the Board of Directors of the Company at its meeting held on March 13, 2008, inter alia, has approved the allotment of 4,50,000 Warrants to TGS Investment & Trade Pvt Ltd, the Private Equity Arm of the AV Birla Group, entitling them to apply for 4,50,000 Equity Shares of Rs 2/- each at a price of Rs 305/- per share (including a premium of Rs 303/- per share) on preferential basis in accordance with and pursuant to consent of the members accorded at the Extra Ordinary General Meeting of the Company held on February 27, 2008.

The Stock closed the day at Rs.184.40, down by Rs.20.45 or 9.98%. The stock hit an intraday high of Rs.197.50 and low of Rs.184.40.

The total traded quantity was 362122 compared to 2 week average of 565666.

Source : Equity Bulls

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