Shakti Pumps approves issue of 6 lakh warrants

Shakti Pumps India Ltd has announced that the Board of Directors of the Company at its meeting held on March 12, 2010, inter alia, have approved the issue of 6,00,000 warrants to promoter group shall be convertible into one equity share of Rs. 10/- each, of the Company @ 211 per subject to approval of the Shareholders in the General Meeting.

The Extra Ordinary General Meeting of the Members of the Company will be held on April 12, 2010 for Consideration of issue 6,00,000 warrants to promoter group shall be convertible into one equity share of Rs. 10/- each, of the Company @ 211 per.

The stock closed the day at Rs.164.35, up by Rs.3.25 or 2.02%. The stock hit an intraday high of Rs.168 and low of Rs.162.

The total traded quantity was 26526 compared to 2 week average of 59640.

Source : Equity Bulls

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