Geodesic repurchases FCCBs worth US$8.5 Million

Geodesic Ltd has announced that the Company has repurchased USD 8.5 Million Face value of Foreign Currency Convertible Bonds due 2013 (the "Bonds"), listed on the Singapore Stock Exchange, in accordance with the A.P. (DIR Series) Circular No. 39 dated December 8, 2008 (the "Circular") issued by the Reserve Bank of india. The process has been initiated for extinguishment of the same in the records of trustee of the said bonds.

The stock closed the day at Rs.62.55, up by Rs.2.05 or 3.39%. The stock hit an intraday high of Rs.63 and low of Rs.61.35.

The total traded quantity was 13196 compared to 2 week average of 171053.

Source : Equity Bulls

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