M&M allots 414311 Equity Shares

Mahindra & Mahindra Ltd has announced that the Company on October 01, 2010, has allotted 4,14,311 Ordinary (Equity) Shares upon the exercise of conversion option by the bondholder of the Zero Coupon Foreign Currency Convertible Bonds (FCCBs) of the Company. The above 4,14,311 Ordinary (Equity) Shares shall rank pari passu in all respects with the existing Ordinary (Equity) Shares of the Company.

The stock was trading at Rs.714, up by Rs.20.70 or 2.99%. The stock hit an intraday high of Rs.715.50 and low of Rs.698.50.

The total traded quantity was 2.34 lakhs compared to 2 week average of 1.94 lakhs.

Source : Equity Bulls

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