Amtek India to allot 1.21 crore warrants

Amtek India Ltd has announced that the Board of Directors of the Company at its meeting held on May 25, 2009, has approved the preferential issue of upto 1,21,10,000 warrants convertible into equivalent number of fully paid equity shares, to promoter group Companies, subject to necessary permissions, sanctions, approvals and applicable SEBI Guidelines and other provisions of laws.

To hold the Extra Ordinary General Meeting of the Company to seek approval of the shareholders for the issue of above said securities.

The stock was trading at Rs.45.45, up by Rs.2.20 or 5.09%. The stock hit an intraday high of Rs.45.90 and low of Rs.42.

The total traded quantity was 23204 compared to 2 week average of 12251.

Source : Equity Bulls

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