MVL to consider raising $100 million on Nov 17, 2010

MVL Ltd has announced that a meeting of the Board of Directors of the Company will be held on November 17, 2010, inter alia, to consider raising of funds to the tune of 100 Million US Dollars through issue of FCCBs/ ADRs/ GDRs/ Preferential Allotment etc. to part finance its expansion diversification plans.

The stock was trading at Rs.59.45, down by Rs.1.35 or 2.22%. The stock hit an intraday high of Rs.62 and low of Rs.58.60.

The total traded quantity was 1.85 lakhs compared to 2 week average of 1.20 lakhs.

Source : Equity Bulls

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