Emco allots 3210000 shares

Emco Ltd has announced that the ESOP and Preferential Issue Committee of the Board of Directors of the Company at its meeting held on December 28, 2010 have allotted 32,10,000 Equity Shares of Rs. 2/- each at a premium of Rs. 60/- per share to Mr. Rajesh S. Jain upon exercise of option attached to the warrants allotted to him on preferential basis on July 04, 2009, pursuant to the special resolution passed by the Members at their Extraordinary General Meeting held on June 22, 2009.

The stock was trading at Rs.63, up by Rs.0.60 or 0.96%. The stock hit an intraday high of Rs.65 and low of Rs.63.

The total traded quantity was 0.13 lakhs compared to 2 week average of 0.18 lakhs.

Source : Equity Bulls

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