Valecha Engineering allots 6.50 lakh shares

Valecha Engineering Ltd has announced that the Board of Directors of the Company at its meeting held on March 31, 2010, have allotted 6,50,000 equity shares of Rs. 10/- each, on conversion of 6,50,000 warrants which have been fully paid up. The shares have been allotted to the Valecha Investments Pvt. Ltd. from whom the balance issue price of the warrants is received.

The stock closed the day at Rs.176, up by Rs.16 or 10%. The stock hit an intraday high of Rs.176 and low of Rs.161.

The total traded quantity was 1809199 compared to 2 week average of 866334.

Source : Equity Bulls

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