MSP Steel & Power approves issue of 1 crore shares

The Board of Directors of MSP Steel & Power Ltd at its meeting held on January 27, 2012, have considered and approved issue of 1,00,00,000 Equity Shares of Rs. 10/- each at a price not less than the price as determined in accordance with SEBI (Issue Of Capital and Disclosure Requirements) Regulations, 2009 to promoters and non- promoter on preferential basis. The said approval from shareholders was sought to be obtained through postal ballot.

The MSP Steel & Power Ltd stock closed the day at Rs.33.10, up by Rs.1.15 or 3.60%. The stock hit an intraday high of Rs.33.90 and low of Rs.31.60.

The total traded quantity was 0.33 lakhs compared to 2 week average of 0.16 lakhs.

Source : Equity Bulls

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