West Coast Paper to consider allotment of 2617650 shares

West Coast Paper Mills Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 25, 2008, inter alia, to consider, allotment of 26,17,650 equity shares of the face value Rs 2/- per share at a price of Rs 85/- per share (including premium of Rs 83/- per share), consequent to exercise of the option to convert warrants in the promoter group known as S K Bangur group.

The stock closed the day at Rs.65.25, down by Rs.1.35 or 2.03%. The stock hit an intraday high of Rs.75.10 and low of Rs.62.05.

The total traded quantity was 9892 compared to 2 week average of 19954.

Source : Equity Bulls

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