MVL Industries allots 6.81 lakh shares

MVL Industries Ltd has announced that the Board of Directors of the Company at its meeting held on March 31, 2010, has allotted 5,00,000 equity shares of Rs 10/- each to M/s Media Magnetic Cassettes Pvt Ltd and 1,81,702 equity shares of Rs 10/- each to M/s MVL Credits Holdings and Leasing Ltd on exercising their option to convert Optionally Convertible Warrants into equity shares, both the allottees fall in the Promoter Group Category of the Company.

The stock was trading at Rs.20.75, up by Rs.0.25 or 1.22%. The stock hit an intraday high of Rs.20.85 and low of Rs.20.75.

The total traded quantity was 1000 compared to 2 week average of 1596.

Source : Equity Bulls

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