Motherson Sumi Systems allots 4.2 million shares

Motherson Sumi Systems Ltd has announced that the Board of Directors of the Company at its meeting held on May 18, 2010 has made the allotment of 42,00,000 Equity Shares of Rs. 1/- each pursuant to conversion of Zero coupon Foreign Currency Convertible Bonds of Euro 6.00 Millions.

Post allotment of above shares, the paid up capital of the Company stands at Rs. 38,50,93,800/- and balance of FCCBs at Euro 3.50 Millions.

The stock was trading at Rs.137.50, up by Rs.11.20 or 8.87%. The stock hit an intraday high of Rs.139.80 and low of Rs.126.20.

The total traded quantity was 1157029 compared to 2 week average of 83229.

Source : Equity Bulls

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