Steelcast Ltd to issue 594000 warrants at Rs.108

The Board of Directors of Steelcast Ltd at its meeting held on October 19, 2011, have considered and approved the issue of 5,94,000 warrants convertible into equivalent equity shares to the Promoters' Group on preferential basis at a price of Rs. 108 per warrant.

The Board approved Notice calling Extra Ordinary General Meeting. The Board also approved increase in Authorized Share Capital from 6.00 Crore to 10.00 Crore.

The stock closed the day at Rs.106.50, up by Rs.4.45 or 4.36%. The stock hit an intraday high of Rs.113.50 and low of Rs.103.

The total traded quantity was 4346 compared to 2 week average of 3993.

Source : Equity Bulls

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