Magma Fincorp allots 4067220 shares

Magma Fincorp Ltd has announced that the Committee of Directors of the Company, at its Meeting held on May 12, 2010, has approved the allotment of 4067220 Equity Shares of face value of Rs. 10/- each pursuant to the qualified institutions placement of its equity shares and authorized the Company to do such acts necessary to effect the allotment and listing of the equity shares.

The stock closed the day at Rs.299.55, down by Rs.2.05 or 0.68%. The stock hit an intraday high of Rs.303.90 and low of Rs.295.10.

The total traded quantity was 100560 compared to 2 week average of 187239.

Source : Equity Bulls

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