Glory Polyfilms approves allotment of 3500000 GDRs

Glory Polyfilms Ltd has announced that the Board of Directors of the Company at its meeting held on February 18, 2010 have approved the allotment of 3,500,000 Global Depositary Receipts (GDRs) representing 7,000,000 Equity Shares, par value of Rs. 10 each at an issue price of US $ 1.0246 per GDR to the persons resident outside India.

The stock was trading at Rs.23.55, down by Rs.0.45 or 1.88%. The stock hit an intraday high of Rs.23.90 and low of Rs.23.40.

The total traded quantity was 18982 compared to 2 week average of 138038.

Source : Equity Bulls

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