MSP Steel & Power Updates on Preferential allotment

MSP Steel & Power Ltd has announced with reference to the Preferential allotment, the Company was in the process of issue of 1,00,00,000 Equity Shares to promoters and non-promoter on preferential basis, that there was some inter se transfer among the promoters within six months of the Record Date. Hence, the management has decided to defer the aforesaid preferential allotment for the time being.

The MSP Steel & Power Ltd stock closed the day at Rs.34.65, down by Rs.1.30 or 3.62%. The stock hit an intraday high of Rs.36.50 and low of Rs.34.

The total traded quantity was 0.19 lakhs compared to 2 week average of 0.63 lakhs.

Source : Equity Bulls

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