MVL approves fund raising proposal

MVL Ltd has announced that the meeting of Board of Directors of the Company held on November 17, 2010 to consider raising of funds to issue of FCCBs ADRs / GDRs / Preferential Allotment etc. to finance its expansion / diversification plans.

The stock was trading at Rs.26.90, down by Rs.2 or 6.92%. The stock hit an intraday high of Rs.29.05 and low of Rs.26.75.

The total traded quantity was 0.52 lakhs compared to 2 week average of 2.60 lakhs.

Source : Equity Bulls

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