Andhra Cements allots 65 lakh shares

Andhra Cements Ltd has announced that the Committee of the Board of Directors of the Company at its meeting held on February 06, 2010, inter alia, allotted 6500000 equity shares of Rs. 10/- each at a premium of Rs. 13.93 per share to M/s. Echo Fiscal Services Pvt. Ltd. on conversion of Warrants issued by the company on September 09, 2009, on preferential basis as per the SEBI Guidelines and in terms of the Special Resolution passed by the shareholders at the Annual General Meeting held on August 25, 2009 and in-principle approval of the regulatory authority.

The Stock closed the day at Rs.27.45, up by Rs.0.50 or 1.86%. The stock hit an intraday high of Rs.27.50 and low of Rs.25.80.

The total traded quantity was 60179 compared to 2 week average of 74529.

Source : Equity Bulls

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