Whirlpool of India approves redemption of NCCPS

Whirlpool of India Ltd has announced that the Board of Directors of the Company at its meeting held on October 28, 2010, has approved the redemption of 5,50,00,000, 10% Redeemable Non-Convertible Cumulative Preference Shares upon exercise of put option by the preference shareholder. The record date for the redemption has been fixed as October 28. The redemption amount, will be paid to those shareholders who are the beneficial owner of such shares on the record date and such payment be made on or before November 15, 2010.

The stock was trading at Rs.300.50, down by Rs.1.15 or 0.38%. The stock hit an intraday high of Rs.307 and low of Rs.300.

The total traded quantity was 0.70 lakhs compared to 2 week average of 0.38 lakhs.

Source : Equity Bulls

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