Metalyst Forgings up 8% ahead of EGM to issue shares, warrants

Moneycontrol NewsShare price of Metalyst Forgings added 8 percent intraday Wednesday ahead of extra-ordinary general meeting (EGM) to be held on March 23.The company's EGM is scheduled to be held on March 23 to consider issue of 44 lakh equity shares to Amtek Auto at Rs 100 per share and 24 lakh warrants to Amtek Auto at Rs 100 each on preferential basis.Amtek Auto is a promoter group company and as on December 2016 it holds 49.26 percent stake in the company.At 09:26 hrs Metalyst Forgings was quoting at Rs 64.60, up Rs 2.75, or 4.45 percent on the BSE.Posted by Rakesh Patil