Bheema Cements approves allotment of 4196790 shares

Bheema Cements Ltd has announced that the Board of Directors of the Company at its meeting held on May 28, 2009, inter alia, has considered the proposal for Postal Ballot to get the approval of members of the Company to ratify the preferential allotment of 41,96,790 Equity Shares of Rs 10/- each allotted to promoters at par on December 15, 2008 on conversion of Warrants as per the SEBI (Disclosure and Investor Protection Guidelines 2000).

The stock was trading at Rs.34.10, down by Rs.0.55 or 1.59%. The stock hit an intraday high of Rs.34.10 and low of Rs.32.95.

The total traded quantity was 450 compared to 2 week average of 1175.

Source : Equity Bulls

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