Autolite India approves conversion of 4 lakh warrants

Autolite India Ltd has announced that the Board of Directors of the Company at its meeting held on March 31, 2009, has approved the conversion of 4,00,000 Warrants into 400,000 Equity Shares out of 24,50,000 Warrants which allotted on April 21, 2008.

Under the conversion, 200,000 Warrants will be converted into 200,000 Equity shares to Autopal Glass Pvt. Ltd and 200,000 Warrants into 200,000 Equity shares to Autopal Marketing Pvt. Ltd.

The Board discussed the business plan for the year 2008-09.

The stock closed the day at Rs.18, up by Rs.0.40 or 2.27%. The stock hit an intraday high of Rs.20.40 and low of Rs.18.

The total traded quantity was 1182 compared to 2 week average of 4666.

Source : Equity Bulls

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