Adhunik Metaliks approves issue of 13960400 shares

Adhunik Metaliks Ltd has announced that a duly authorized committee of the Board of Directors of the Company has decided that the bid closing date for the issue is November 20, 2009 and that further to bids received from qualified institutional buyers pursuant to the Issue, the Committee has approved the issue of 13960400 equity shares of the Company at a price of Rs. 98.23p. per equity share of the Company.

The stock closed the day at Rs.99.25, down by Rs.1.70 or 1.68%. The stock hit an intraday high of Rs.103.75 and low of Rs.98.10.

The total traded quantity was 461259 compared to 2 week average of 270241.

Source : Equity Bulls

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