Uttam Galva Steels allots 5874760 shares

Uttam Galva Steels Ltd has announced that the Board of Directors of the Company at its meeting held on August 27, 2009, inter alia, has allotted 58,74,760 (Fifty Eight Lakhs Seventy Four Thousand Seven Hundred Sixty) Equity shares to the Shareholders of Shree Uttam Steel and Power Ltd, pursuant to the Scheme of Arrangement (Demerger) between Shree Uttam Steel and Power Ltd and Uttam Galva Steels Ltd approved by Hon'ble High Court Judicature at Bombay and Hon'ble High Court of Bombay, Goa Bench vide their orders dated August 07, 2009 & August 17, 2009 respectively, which has come into effect on August 21, 2009.

The stock closed the day at Rs.90.05, down by Rs.0.50 or 0.55%. The stock hit an intraday high of Rs.93 and low of Rs.89.

The total traded quantity was 193895 compared to 2 week average of 616275.

Source : Equity Bulls

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