Grasim Industries approves grant of 71297 options

Grasim Industries Ltd has announced that the ESOS Compensation Committee of the Board of Directors of the Company vide Circular Resolution dated August 30, 2010 has approved grant of 71,297 Stock Options to the eligible permanent employees of the Company, under the Employee Stock Option Scheme - 2006, as amended, (ESOS-2006), each option being convertible into one Equity Share of the Company upon vesting, at a price of Rs. 1,440/- per share. The same is subject to the Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999 and the terms of the ESOS - 2006 and the said options will vest in 4 equal annual installments after one year of the grant and shall be exercisable within a period of 5 years from the date of vesting.

The stock was trading at Rs.2150.10, down by Rs.1.05 or 0.05%. The stock hit an intraday high of Rs.2187 and low of Rs.2139.

The total traded quantity was 9236 compared to 2 week average of 18723.

Source : Equity Bulls

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