Ceat approves allotment of 1712176 warrants

Ceat Ltd has announced that the Board of Directors of the Company at its meeting held on July 27, 2010, has approved allotment of 17,12,176 convertible warrants on a preferential basis and at a price to be determined as per the SEBI Guidelines. These warrants shall be converted into 17,12,176 equity shares of face value Rs. 10/- each at a premium working out to be 5% of the existing paid equity share capital.

The stock closed the day at Rs.132, down by Rs.3.05 or 2.26%. The stock hit an intraday high of Rs.137.45 and low of Rs.129.

The total traded quantity was 343902 compared to 2 week average of 42301.

Source : Equity Bulls

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