Why the stock price has increased?
Aarti Industries has soared 11.81% to Rs 71.00 after the company's board of directors approved to issue upto 2.4 million convertible warrants, on a preferential basis, to the promoter group company. “Each of the said warrants would be entitled the holder thereof to apply for and obtain allotment of one equity share of Rs 5 each thereof on a future date not exceeding 18 months from the date of allotment of warrants at an issue price of Rs 58 per share. The issue price for the warrants is fixed at 25% of the issue price of the resulting shares upon conversion," the company said in its filing to the stock exchanges.
Open - 65.00
High - 73.40
Low - 65.00
Close - 71.00
Previous close (04 Oct 2010) - 63.50
Aarti Industries has soared 11.81% to Rs 71.00 after the company's board of directors approved to issue upto 2.4 million convertible warrants, on a preferential basis, to the promoter group company. “Each of the said warrants would be entitled the holder thereof to apply for and obtain allotment of one equity share of Rs 5 each thereof on a future date not exceeding 18 months from the date of allotment of warrants at an issue price of Rs 58 per share. The issue price for the warrants is fixed at 25% of the issue price of the resulting shares upon conversion," the company said in its filing to the stock exchanges.
Open - 65.00
High - 73.40
Low - 65.00
Close - 71.00
Previous close (04 Oct 2010) - 63.50
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