Burnpur Cement to issue 2 crores warrants

Burnpur Cement Ltd has announced that the Board of Directors of the Company at its meeting held on November 22, 2010, inter alia, passed and approved the issue of 2 Crores Convertible warrants to part finance the ongoing setting up of cement plant at Patrata, Jharkhand.

The Board granted permission for borrowing of money upto Rs. 225 Crores.

The Board will seek approval of shareholders in the EGM regarding above matters the Board called an Extra Ordinary General Meeting on December 21, 2010.

The stock was trading at Rs.11.26, down by Rs.0.60 or 5.06%. The stock hit an intraday high of Rs.12.07 and low of Rs.11.10.

The total traded quantity was 1.43 lakhs compared to 2 week average of 1.11 lakhs.

Source : Equity Bulls

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