Orissa Sponge Iron to convert 30 lakh warrants allotted to TRFI Investment

Orissa Sponge Iron & Steel Ltd has announced that the Board of Directors of the Company at its meeting held on March 04, 2009, inter alia, has passed the resolution to convert the 30,00,000 nos. of warrants allotted to promoter group i.e. TRFI Investment Pvt Ltd on December 20, 2007 into the same numbers of equity shares to TRFI Investment Pvt Ltd.

The Orissa Sponge Iron stock was trading at Rs.377.90, up by Rs.17.95 or 4.99%. The stock hit an intraday high of Rs.377.90 and low of Rs.377.90.

The total traded quantity was 22533 compared to 2 week average of 426016.

Source : Equity Bulls

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