GTN Industries allots 60 lakh shares

GTN Industries Ltd has announced that the Board of Directors of the Company at its meeting held on May 10, 2010, has approved the allotment of 60,00,000 equity shares as approved by SEBI vide exemption order dated March 25, 2010 to group Companies on preferential basis.

The allotteess(s) are JEL Finance & Investments Ltd - 48,00,000 shares and GTN Engineering (India) Ltd - 12,00,000 shares.

The stock was trading at Rs.17.15, up by Rs.0.50 or 3%. The stock hit an intraday high of Rs.17.75 and low of Rs.15.90.

The total traded quantity was 6458 compared to 2 week average of 1810.

Source : Equity Bulls

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