Bajaj Hindusthan to issue 1.45 crore warrants

Bajaj Hindusthan Ltd has announced that the Board of Directors of the Company at its meeting held on April 01, 2009, inter alia, has approved the issue on Preferential basis to the promoter, entity / entities of promoter group in accordance with the 'Guidelines for Preferential Issues' contained in Chapter XIII of the Securities and Exchange Board of India (Disclosure and investor Protection) Guidelines, 2000,upto 1,45,00,000 Warrants, entitling the warrant holders to apply for equivalent number of fully paid equity shares of the Company subject to approval of the shareholders at the General Meeting of the Company.

The Board has also approved convening of an Extraordinary General Meeting of the Shareholders of the Company to be held on May 04, 2009, interalia for obtaining the approval for Proposed Preferential Issue of Warrants to the promoter, entity/entities of promoter group.

The stock was trading at Rs.49.70, up by Rs.1.65 or 3.43%. The stock hit an intraday high of Rs.51.25 and low of Rs.47.50.

The total traded quantity was 1012777 compared to 2 week average of 642370.

Source : Equity Bulls

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