Tube Investments allots 4296 shares

Tube Investments of India Ltd has announced that the Shares and Debentures Committee of the Board of Directors vide its resolution dated May 17, 2010 has allotted 4,296 fully paid equity shares of Rs. 2/- each consequent upon the exercise of Stock Options by an eligible employee under the Employee Stock Option Scheme 2007. The exercise price in respect of these options was Rs. 56.80/- per share.

Further the Company has informed that, with this allotment, the number of equity shares outstanding has increased from 18,48,07,976 to 18,48,12,272 and the paid up equity share capital from Rs. 36,96,15,952/- to Rs. 36,96,24,544/-.

The stock was trading at Rs.113, up by Rs.6.15 or 5.76%. The stock hit an intraday high of Rs.114.55 and low of Rs.106.

The total traded quantity was 504621 compared to 2 week average of 371414.

Source : Equity Bulls

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