Farmax India allots 4800000 Shares under ESOPs

Farmax India Ltd has announced that the Board of Directors of the Company at its meeting held on December 06, 2010 inter alia, has issued and allotted 48,00,000 equity shares of Re. 1/- each to certain employees against exercise of stock options granted to them pursuant to ESOP Scheme of the Company i.e. "Farmax ESOS -2009". Consequently, the paid-up capital was increased from Rs 25.35 Crores to Rs 25.83 Crores.

The stock closed the day at Rs.21.95, down by Rs.2.40 or 9.86%. The stock hit an intraday high of Rs.24.35 and low of Rs.21.95.

The total traded quantity was 5.69 lakhs compared to 2 week average of 18.70 lakhs.

Source : Equity Bulls

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