Bharati Shipyard to allot convertible warrants

Bharati Shipyard Ltd has announced that the Board of Directors of the Company at its meeting held on September 03, 2009, inter alia, has decided subject to the approval of the Members of the Company to allot Convertible Warrants to the Promoter Directors to the extent of 5% of the present Paid up Share Capital i.e. 2.5% each to each of the Promoter Directors.

The Board approved subject to the approval of the Members of the Company to authorize the Board of Directors to explore various options of raising further Share Capital.

The Board approved subject to the approval of the Members of the Company to increase Authorized Share Capital of the Company from Rs. 40 Corers to Rs. 50 Corers and consequential amendments to Memorandum and Articles of Association of the Company.

The stock was trading at Rs.191.05, up by Rs.0.30 or 0.16%. The stock hit an intraday high of Rs.196.70 and low of Rs.189.10.

The total traded quantity was 259602 compared to 2 week average of 741776.

Source : Equity Bulls

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