Bhagyanagar India allots 40 Lakh warrants

Bhagyanagar India Ltd has announced that the Board of Directors of the Company at its Meeting held on March 17, 2008 has allotted 40,00,000 Equity Share Warrants of Face Value of Rs 2/- each at a price of Rs 90/- per share warrant convertible into Equity Shares on a Preferential Basis to M/s. Consolidated Securities Ltd, out of the proposed allotment of 55,00,000 sharewarrants for which the members accorded their approval at their EGM dt. January 31, 2008.

The approval for allotment of balance 15,00,000 share warrants in favour of M/s. Trimurthi Drugs & Pharmaceuticals Ltd, M/s. C S K Realtors Ltd and Mr. Sunil D Parakh is cancelled due to non receipt of application money.

The stock closed the day at Rs.40.25, down by Rs.3.70 or 8.42%. The stock hit an intraday high of Rs.44.45 and low of Rs.40.

The total traded quantity was 92019 compared to 2 week average of 39556.

Source : Equity Bulls

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