Valecha Engineering approves preferential issue of warrants

Valecha Engineering Ltd has announced that the Board of Directors of the Company at its meeting held on March 26, 2010, has approved the issue on Preferential basis to the promoter/ promoter groups and other entities in accordance with the Guidelines for Preferential Issues contained in Chapter XIII of the Securities and Exchange Board of India (Disclosure and investor Protection) Guidelines, 2000, upto 35,00,000 warrants convertible into equity shares.

The stock was trading at Rs.167.05, up by Rs.19.25 or 13.02%. The stock hit an intraday high of Rs.172.40 and low of Rs.150.

The total traded quantity was 1621865 compared to 2 week average of 298673.

Source : Equity Bulls

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