Orissa Sponge Iron & Steel to convert 40 lakh warrants

Orissa Sponge Iron & Steel Ltd has announced that the Board of Directors of the Company at its meeting held on February 28, 2009, has passed the resolution to convert the 40,00,000 equity share warrants allotted to promoter group on December 20, 2007 into the same numbers of equity shares to the promoter group, i.e. TRFI Investment Pvt. Ltd.

The Stock closed on Friday at Rs.326.55, up by Rs.15.55 or 5%. The stock hit an intraday high of Rs.326.55 and low of Rs.323.70.

The total traded quantity was 21611 compared to 2 week average of 261095.

Source : Equity Bulls

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