Garg Furnace to issue 560000 warrants

Garg Furnace Ltd has announced that the Board of Directors of the Company at its meeting held on September 02, 2008, inter alia, has decide on issue of 560000 warrants convertible into 560000 equity share of Rs 10/- each at a premium of Rs 60/- per share to Saluja Cottex Pvt. Ltd : 5,60,000

The decision of issue of warrants convertible into Equity Shares are subject to approval of shareholders & other statutory approvals if any.

The stock was trading at Rs.24.60, down by Rs.0.45 or 1.80%. The stock hit an intraday high of Rs.25.05 and low of Rs.24.55.

The total traded quantity was 592 compared to 2 week average of 2424.

Source : Equity Bulls

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