Gujarat NRE Coke forfeits 4.55 crore warrants

Gujarat NRE Coke Ltd has announced that the Board of Directors of the Company at its meeting held on July 18, 2009, inter alia, has Forfeited 4,55,00,000 convertible warrants alongwith its application money amounting Rs 39 crores held by Promoters/Promoter Group Companies consequent upon expiry of 18 months from the date of issue of these warrants.

The stock was trading at Rs 51, up by Rs 5.40 or 11.84%. The stock hit an intraday high of Rs 52.50 and low of Rs 45.80.

The total traded quantity was 4935189 as compared to 2 week average of 1732792.

Source : Equity Bulls

Keywords