Emco allots 3090000 shares

Emco Ltd has announced that the ESOP and Preferential Issue Committee of the Board of Directors of the Company at its meeting held on March 26, 2010, have allotted 30,90,000 Equity Shares of Rs. 2/- each at a premium of Rs. 60/- per share to the Mr. Rajesh S. Jain upon exercise of option attached to warrants allotted to him on preferential basis on July 04, 2009, pursuant to special resolution passed by the Members at their Extraordinary General Meeting held on June 22, 2009.

The stock closed the day at Rs.82.70, up by Rs.0.05 or 0.06%. The stock hit an intraday high of Rs.84 and low of Rs.82.

The total traded quantity was 24458 compared to 2 week average of 43015.

Source : Equity Bulls

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