Everest Kanto up 9% on restructuring outstanding FCCBs

Everest Kanto Cylinder climbed on Monday after it issued USD 35million zero coupon convertible bonds which are due in October 2012 (outstanding bonds). The company is considering various options to restructure its obligations under the outstanding bonds, and has appointed Jefferies India to assist it in relation to the proposed restructuring. Shares ofthe companyare trading at Rs 26.40, up Rs 2.25, or 9.32% at the Bombay Stock Exchange (BSE) on Monday at 11:39 a.m.The scrip has touched an intra-day high of Rs 28.10 and low of Rs 24.35. The total volume of shares traded at the BSE is 274,629.In the earlier session, the shares lost 0%, or Rs 0, at Rs 24.15. Currently, the stock is trading down 67% from its 52-week high of Rs 80 and above 12.82% over the 52-week low of Rs 23.40.

Share Price Movement Period Pricein Rs Gain/(Loss) in Rs in % 1 Week 25.60 (1.45) (5.66) 1 Month 30.20 (6.05) (20.03) 3 Months 27.10 (2.95) (10.89) 6 Months 36.50 (12.35) (33.84) 1 Year 72.85 (48.70) (66.85) Note: Based on previous day closing price.