Gujarat NRE Coke allots 40 lakh Convertible Warrants to Bennett, Coleman & Co.

Gujarat NRE Coke Ltd has announced that the Management Committee of the Board of Directors at its meeting held on May 15, 2009, inter alia, has considered and allotted 40,00,000 Convertible Warrants of the Company on Preferential / Private Placement basis to M/s. Bennett, Coleman & Co. Ltd. in accordance with the approval accorded by the shareholders of the Company through Postal Ballot. These warrants are convertible at a price of Rs 50 per Equity Share.

The stock was trading at Rs.37.40, up by Rs.5.80 or 18.35%. The stock hit an intraday high of Rs.37.90 and low of Rs.35.

The total traded quantity was 158850 compared to 2 week average of 5942430.

Source : Equity Bulls

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