MVL Industries to allot 26 lakh warrants

MVL Industries Ltd has announced that the Board of Directors of the Company at its meting held on May 26, 2009, has approved the issue of 26,00,000 convertible warrants for Rs 10/- each on preferential basis by private placement as per SEBI (DIP) Guidelines 2000, to Promoters and Promoter Group, subject to approval of shareholders of the Company.

The stock closed the day at Rs.17.02, down by Rs.0.55 or 3.13%. The stock hit an intraday high of Rs.18.20 and low of Rs.16.32.

The total traded quantity was 13722 compared to 2 week average of 10242.

Source : Equity Bulls

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