Godrej Consumer Products Ltd allots 50000 shares on Exercise of options

Godrej Consumer Products Ltd has announced that In terms of the special resolutions passed by the shareholders on March 14, 2007 and April 24, 2008 an independent trust viz. Godrej Consumer Products Ltd ESOP Trust was empowered to acquire by means of subscription or secondary market purchase, the shares of GCPL to be allotted as options to the eligible employees of the Company and its subsidiaries.

Further the Company has informed that, 50,000 options equivalent of 50,000 equity shares of Re. 1/- each of Godrej Consumer Products Ltd. (GCPL) have been exercised by option grantee(s) on September 16, 2010. After the above exercise, a total of 740,000 options equivalent of 740,000 equity shares have been exercised till now. Further there is no change in the issued, subscribed or paid-up capital of GCPL on account of the exercise of the aforesaid options.

The stock was trading at Rs.462, up by Rs.44.50 or 10.66%. The stock hit an intraday high of Rs.479.70 and low of Rs.422.15.

The total traded quantity was 3.35 lakhs compared to 2 week average of 0.78 lakhs.

Source : Equity Bulls

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