MVL to issue securities to Bennett, Colemand & C0 & DB Corp

MVL Ltd has announced that a meeting of the Board of Directors of the Company will be held on April 11, 2009, to consider the proposal to issue optional zero coupon convertible warrants / zero coupon fully convertible unsecured debentures on preferential basis to Bennett, Coleman & Co. Ltd (Times of India Group) and to DB Corp Ltd or Writer & Publishers Ltd (Dainik Bhaskar Group Companies).

The stock was trading at Rs.62.45, up by Rs.2.95 or 4.96%. The stock hit an intraday high of Rs.62.45 and low of Rs.57.50.

The total traded quantity was 8663 compared to 2 week average of 2473.

Source : Equity Bulls

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