Ashco Niulab allots 6755900 GDRs

Ashco Niulab Industries Ltd has announced that the Board of Directors of the Company at its meeting held on April 16, 2010 (Closing of the Global Depository Receipts (GDRs)) allotted 6755900 GDRs with Underlying 337,795,000 equity shares of Re. 1/- (Rupee One Only) each at Rs. 1.35 (Rupee One and Paise Thirty Five only) per share to the Depository, and the GDRs amounting to US$ 10 Million have been fully subscribed.

The stock closed the day at Rs.1.17, down by Rs.0.06 or 4.88%. The stock hit an intraday high of Rs.1.29 and low of Rs.1.17.

The total traded quantity was 1121226 compared to 2 week average of 915996.

Source : Equity Bulls

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