News on Moneycontrol.com about 'Store One'
Store One Retail India Ltd has informed BSE that pursuant to and in terms of shareholders' authorisation through Postal Ballot, result whereof was declared on November 22, 2012, the Board of Directors of the Company at its meeting held December 6, 2012, has issued and allotted an aggregate of 44,00,000 (forty four lac) warrants of the Company, convertible into equivalent number of equity shares of face value Rs. 10 each, to Indiabulls Wholesale Services Limited, the promoter of the Company.Source : BSE
This is both positive and negative apects for the public investors. Positive in the sense that the promoters are confident about the future of the stock. Negative that it brings about dilution of EPS. We need to see the Q3 earnings before deciding on future course of action.
Regards,
Value Stock Picker
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