Garg Furnace to consider conversion of 560000 warrants on Mar 27, 2010

Garg Furnace Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 27, 2010, inter alia, to discuss / approve the conversion of 560000 warrants allotted on October 15, 2008 into 560000 equity shares of Rs. 10/- each at a premium of Rs. 60/- per share as per terms of allotment approved by the shareholders in their AGM held on September 30, 2008.

The stock closed the day at Rs.20.70, up by Rs.1.10 or 5.61%. The stock hit an intraday high of Rs.21.90 and low of Rs.19.60.

The total traded quantity was 1664 compared to 2 week average of 1208.

Source : Equity Bulls

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