Gujarat NRE Coke Ltd to issue securities

Gujarat NRE Coke Ltd has announced that the Board of Directors of the Company at its meeting held on September 24, 2009, inter alia, has decided to issue securities (including Foreign Currency Convertible Bonds) for an amount not exceeding USD 60 million or INR Rs. 300 crores subject to approval of shareholder and other requisite approvals as applicable and issue 2,50,00,000 Convertible Warrants to Promoters / Promoter Group Companies on a Preferential / Private Placement basis subject to approval of shareholders and other requisite approvals, as applicable.

The stock closed the day at Rs.67.85, up by Rs.4.55 or 7.19%. The stock hit an intraday high of Rs.69 and low of Rs.61.

The total traded quantity was 4400304 compared to 2 week average of 4406066.

Source : Equity Bulls

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