Sujana Metal Products allots 13000000 shares

Sujana Metal Products Ltd has announced that pursuant to the approval of the shareholders of the Company through postal ballot on December 24, 2009 and the meeting of the Committee of the Board of Directors of the Company held on March 10, 2010, the Company has allotted 130,00,000 equity shares of Rs. 5/- each to the Promoters (against conversion of 130,00,000 warrants out of 5,00,00,000 warrants, which were allotted by the Company on January 04, 2010 by way of preferential allotment).

The stock was trading at Rs.33.30, down by Rs.0.80 or 2.35%. The stock hit an intraday high of Rs.34.95 and low of Rs.32.75.

The total traded quantity was 441447 compared to 2 week average of 1019053.

Source : Equity Bulls

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