Empower Industries approves allotment of 3 crore warrants

Empower Industries India Ltd has announced that the Board of Directors of the Company at its meeting held on March 20, 2010, has allotted 3,00,00,000 Convertible Equity Warrants issued on Preferential Basis, as approved by the members of the Company at their EOGM held on March 09, 2010, to all the Allottees from whom the consideration for the same (i.e. 25% of the issue Price) has been received by the Company.

The Board appointed Mr. Mangesh Gurav as an Additional Director of the Company.

The stock closed the day at Rs.47.15, up by Rs.2.20 or 4.89%. The stock hit an intraday high of Rs.47.15 and low of Rs.46.90.

The total traded quantity was 409587 compared to 2 week average of 288584.

Source : Equity Bulls

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