Emco approves allotment of 63 lakh warrants to promoter

Emco Ltd has announced that the ESOP and Preferential Issue Committee of the Board of Directors of the Company at its meeting held on July 04, 2009, have considered the allotment of 63,00,000 warrants to the promoter Mr. Rajesh S Jain, each warrant has an option to apply for 1 equity share of Rs 2/- each at a price (including premium) of Rs 62/- per share.

The stock was trading at Rs.86.20, up by Rs.1.35 or 1.59%. The stock hit an intraday high of Rs.87 and low of Rs.85.75.

The total traded quantity was 31368 compared to 2 week average of 183654.

Source : Equity Bulls

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