Rolta India to buy-back FCCBs

Rolta India Ltd has announced that, pursuant to RBI circular dated December 08, 2008 on buy back of FCCBs, the Board of Directors of the Company at its meeting held on January 19, 2009, inter alia, have resolved to explore opportunities for and where appropriate effecting buy-back of FCCB issued by the Company and outstanding as on date, subject to applicable laws and necessary regulatory approvals / filings. Company is proposing to appoint BNP Paribas Capital (Asia Pacific) as advisor in this regard.

The stock closed the day at Rs.87.20, up by Rs.0.55 or 0.63%. The stock hit an intraday high of Rs.89.30 and low of Rs.84.80.

The total traded quantity was 1837000 compared to 2 week average of 6443679.

Source : Equity Bulls

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