Rishi Laser forfeits application money for Convertible Warrants

Rishi Laser Ltd has announced that the Company had issued 6,70,000 convertible warrants on March 07, 2008 which were due for conversion on September 06, 2009. However the said warrants have not been converted and the amount paid upfront (10%) have been forfeited.

The stock was trading at Rs.38.65, up by Rs.2.45 or 6.77%. The stock hit an intraday high of Rs.39.80 and low of Rs.37.60.

The total traded quantity was 87997 compared to 2 week average of 50623.

Source : Equity Bulls

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