Ckoramaandel Cements allots 20 Lakh warrants

Ckoramaandel Cements Ltd has announced that the Board of Directors of the Company at its meeting held on October 08, 2008, inter alia, has allotted 20,00,000 Warrants of Rs 10/- each at a premium of Rs 230/- each to the promoters, convertible into 20,00,000 Equity Shares of Rs 10/- each.

To Board has approved the Proposal for Enhancement of Borrowing Powers from Rs 600.00 Crores to Rs 1500.00 Crores and authorized Board, subject to approval of members, to create Mortgage / Charge on Company's assets.

The Board has considered and approved the proposal for going for postal ballot for obtain the consent of the Members through Postal Ballot Procedure.

The stock was last trading at Rs.64, down by Rs.1 or 1.54%. The stock hit an intraday high of Rs.64 and low of Rs.64.

The total traded quantity was 10 compared to 2 week average of 133.

Source : Equity Bulls

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