Pradeep Metals to allot 12 lakh warrants

Pradeep Metals Ltd has announced that a meeting of the Board of Directors of the Company will be held on February 18, 2011, to consider, issue and allot 12,00,000 Equity Warrants convertible into equal number of Equity Shares of Rs. 10/- each at Rs. 19/- per equity share (including premium of Rs. 9/- per share) on preferential basis.

The stock was trading at Rs.18, down by Rs.0.50 or 2.70%. The stock hit an intraday high of Rs.18.15 and low of Rs.17.80.

The total traded quantity was 2491 compared to 2 week average of 5192.

Source : Equity Bulls

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