Gujarat NRE Coke to issue 40 Lakh warrants

Gujarat NRE Coke Ltd has announced that the Board of Directors of the Company vide circular resolution(s) passed on February 24, 2009 has decided, inter alia, to issue 40,00,000 (forty lac) Convertible Warrants to non-promoter entity(ies) subject to the approval of the shareholders and in accordance with the provisions of Chapter XIII to SEBI (Disclosure & Investor Protection) Guidelines, 2000 at a price not less than Rs 50 per Equity Share to be issued on conversion of each warrant.

The Gujarat NRE Coke stock was trading at Rs.20.45, down by Rs.0.20 or 0.97%. The stock hit an intraday high of Rs.21.40 and low of Rs.20.25.

The total traded quantity was 815362 compared to 2 week average of 1442578.

Source : Equity Bulls

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