Gangotri Iron & Steel allots 5719694 shares

Gangotri Iron & Steel Company Ltd has announced that the Board of Directors of the Company at its meeting held on May 12, 2009, has allotted 57,19,694 Equity shares of Rs 10/- each at a premium of Rs 10/- per share (Presently paid to extent of Rs 5/- towards share capital and Rs 5/- towards share premium) on rights basis to the existing shareholders in the ratio of 4 equity shares for every 5 equity shares held on record date i.e. March 20, 2009 payable in two installments i.e. 50% on application and 50% on call within 12 months.

The stock was trading at Rs.12.86, down by Rs.0.01 or 0.08%. The stock hit an intraday high of Rs.13.51 and low of Rs.12.49.

The total traded quantity was 9209 compared to 2 week average of 45879.

Source : Equity Bulls

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