Arihant Foundations approves allotment of warrants at Rs 89

Arihant Foundations & Housing Ltd has announced that the Board of Directors of the Company at its meeting held on August 05, 2009, has approved the allotment of 15,50,000 Convertible warrants to Promoters and Body Corporate on preferential basis at an exercise price of Rs 89/- (including premium of Rs 79/-).

The stock closed the day at Rs.181.35, up by Rs.8.60 or 4.98%. The stock hit an intraday high of Rs.181.35 and low of Rs.178.

The total traded quantity was 255 compared to 2 week average of 3205.

Source : Equity Bulls

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