S. Kumars Nationwide approves conversion of FCCBs

The Committee of Directors of the Board of S. Kumars Nationwide Ltd have approved proposal to convert US$ 9 Million FCCBs into 70,95,789 Nos. of Equity Shares of Rs. 10/- each at a premium of Rs. 47/- per share in their meeting held on March 11, 2011. The said shares were allotted to 'Daiwa Capital Markets Singapore Limited'.

The stock closed the day at Rs.55.60, down by Rs.2.70 or 4.63%. The stock hit an intraday high of Rs.58.20 and low of Rs.55.10.

The total traded quantity was 2.30 lakhs compared to 2 week average of 4.25 lakhs.

Source : Equity Bulls

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