GHCL repurchases $0.7 million FCCBs

GHCL Ltd has repurchased (buyback) 1% Convertible Bonds due 2011 ("Bonds") in tranches, up to March 07, 2011 aggregating to face value of USD 7,00,000 (seven lakhs) and has extinguished the same. The repurchase was done after receiving the approval from Reserve Bank of India.

The Company has cancelled USD 0.70 million of Bonds and the total outstanding of the Bonds is USD 8.00 million as on March 07, 2011.

The stock closed the day at Rs.40.50, up by Rs.1.85 or 4.79%. The stock hit an intraday high of Rs.41.65 and low of Rs.38.45.

The total traded quantity was 24.77 lakhs compared to 2 week average of 1.66 lakhs.

Source : Equity Bulls

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