APL Apollo Tubes allots 1641953 warrants

APL Apollo Tubes Ltd has announced that the Board of Directors at its meeting held on December 22, 2010, has allotted 16,41,953 warrants; compulsorily convertible into equity shares within 18 (Eighteen) months from the date of allotment at a issue price of Rs. 176/- on preferential basis to the promoter group entity viz. M/s APL Infrastructure Private Limited.

The stock was trading at Rs.144.60, up by Rs.3.30 or 2.34%. The stock hit an intraday high of Rs.149.40 and low of Rs.140.30.

The total traded quantity was 1.99 lakhs compared to 2 week average of 2.33 lakhs.

Source : Equity Bulls

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