Bharati Shipyard Withdraws proposed allotment of warrants

Due to delay and financial stress, it has been decided that the proposed allotment of 15,52,700 convertible warrants, which was proposed in Bharati Shipyard Ltd's Board Meeting held on August 19, 2011 and approved at the AGM of the Share Holders held on September 22, 2011, shall not be proceeded further and is hereby withdrawn.

The Bharati Shipyard Ltd stock was trading at Rs.85.70, up by Rs.1.85 or 2.21%. The stock hit an intraday high of Rs.88.50 and low of Rs.84.35.

The total traded quantity was 0.99 lakhs compared to 2 week average of 0.86 lakhs.

Source : Equity Bulls

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