Kirloskar Ferrous Industries allots 2104 Equity Shares

Kirloskar Ferrous Industries Ltd has announced that the Rights Issue and Allotment Committee of the Board of Directors of the Company at its meeting held on January 09, 2010 has extinguished 2,104 Detachable Warrants and has allotted 2,104 Equity Shares of Rs. 5 each fully paid, pursuant to the conversion of Detachable Warrants into Equity Shares in terms of the Letter of Offer dated January 02, 2007.

Consequent to the allotment of Equity Shares against the conversion of Detachable Warrants, the Paid up - Share Capital of the Company stands increased from Rs. 686,475,995 to Rs. 686,486,515.

The stock was trading at Rs.40.30, up by Rs.1.10 or 2.81%. The stock hit an intraday high of Rs.41.75 and low of Rs.39.50.

The total traded quantity was 204050 compared to 2 week average of 228047.

Source : Equity Bulls

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