Steel Exchange India to allot shares, warrants

A meeting of the Board of Directors of Steel Exchange India Ltd will be held on April 08, 2011, to consider and decide the proposal to allot 40,00,000 equity shares of the Company consequent to conversion of share warrants.

The Board will also consider proposal to issue and allot 51,00,000 equity share warrants of the Company Rs. 45/- per warrant on preferential basis to Promoter group.

The stock closed the day at Rs.40.50, down by Rs.1.05 or 2.53%. The stock hit an intraday high of Rs.43.50 and low of Rs.40.45.

The total traded quantity was 9008 compared to 2 week average of 14809.

Source : Equity Bulls

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