Volume Shocker: WWIL
The stock rallied 232% so far in current calendar year 2012, as compared to 14% rise in benchmark Sensex
Wire and Wireless India Limited (WWIL) has locked upper circuit of 10% at Rs 20.90, also its two-year high, on the back of over five fold jump in the trading volumes.
As many as a combined 11.07 million shares have already changed hands on the counter in the early noon deals, against an average of around two million shares that were traded daily in past two weeks. There are pending buy orders for 1.06 million shares on the NSE and BSE.
The board of broadcasting and cable TV operator at its meeting held on August 13, has approved in-principle issuance of 162 million warrants convertible into equivalent number of equity shares of Re 1 each to the promoter(s) of the company, subject to shareholders and other approvals.
“For the purpose an extra-ordinary general meeting (EGM) of the members of the company is convened to be held on September 06, 2012,” WWIL said in a filing.
The stock has outperformed the market by appreciating 232% so far in current calendar year 2012, as compared to 14% rise in benchmark Sensex.