Panama Petrochem to consider allotment of shares to Mobil Petrochem members on May 19, 2009

Panama Petrochem Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 19, 2009, inter alia, to allot equity shares to the members of Mobil Petrochem Pvt. Ltd - Transferor Company pursuant to the Scheme of Arrangement as approved by the Hon'ble High Court of Gujarat and Bombay.

The stock closed the day at Rs.79.80, up by Rs.3.20 or 4.18%. The stock hit an intraday high of Rs.84 and low of Rs.77.75.

The total traded quantity was 38395 compared to 2 week average of 12583.

Source : Equity Bulls

Keywords