Patni Computer Systems allots 150775 equity shares under Stock Option Plan

The Compensation & Remuneration Committee of Directors of Patni Computer Systems Ltd vide resolution dated June 07, 2011 has allotted 150,775 equity shares of par value of Rs. 2/- each to certain employees, including 150,000 underlying equity shares of par value of Rs. 2/- each to the Bank of New York Mellon as a Depository in connection with the issuance of 75,000 American Depositary Shares (ADSs) to foreign based option holder pursuant to the exercise of ADR Linked options granted to him under the Company's Stock Option Plan.

The stock was trading at Rs.349.35, down by Rs.6.30 or 1.77%. The stock hit an intraday high of Rs.358.50 and low of Rs.348.

The total traded quantity was 0.37 lakhs compared to 2 week average of 1.38 lakhs.

Source : Equity Bulls

Keywords