Renaissance Jewellery approves issue of 20 lakh warrants

Renaissance Jewellery Ltd has announced that the Board of Directors of the Company at its meeting held on January 28, 2011, inter alia, accorded its approval for issue of 20,00,000 Convertible Share Warrants on preferential basis, at a price calculated in accordance with the SEBI (ICDR) Regulations, 2009 or at such higher price as may be decided by the Board, subject to the approval of shareholders sought through the Postal Ballot procedure, pursuant to provisions of Section 192A of the Companies Act, 1956 and rules made there under.

The stock closed the day at Rs.65.80, down by Rs.4.75 or 6.73%. The stock hit an intraday high of Rs.71 and low of Rs.65.

The total traded quantity was 8160 compared to 2 week average of 5658.

Source : Equity Bulls

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