Malwa Cotton approves conversion of 550000 warrants

Malwa Cotton Spinning Mills Ltd has announced that the Board of Directors of the Company at its meeting held on March 29, 2010, has approved the conversion of 5,50,000 share warrants into 5,50,000 equity shares to the Promoter's group Companies on preferential basis for cash as per SEBI Guidelines.

The stock was trading at Rs.39.40, up by Rs.2.70 or 7.36%. The stock hit an intraday high of Rs.40.50 and low of Rs.36.15.

The total traded quantity was 7134 compared to 2 week average of 4291.

Source : Equity Bulls

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