India Securities allots 40 lakh shares to Essar Investments

India Securities Ltd has announced that the Board of Directors of the Company at its meeting held on May 29, 2009, inter alia, has allotted of 40 lakh equity shares of Rs 10 each to Essar Investments Ltd at a premium of Rs 60 per share, pursuant to the clause 12.7 of the scheme of arrangement in the nature of demerger, approved by High court of Judicature at Bombay vide their order dated February 06, 2009.

The stock closed the day at Rs.33.35, up by Rs.3 or 9.88%. The stock hit an intraday high of Rs.33.35 and low of Rs.31.05.

The total traded quantity was 23045 compared to 2 week average of 15678.

Source : Equity Bulls

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