Manappuram General Finance & Leasing Ltd has announced that the Board of Directors of the Company at its meeting held on July 24, 2010, inter alia, decided to Make a preferential issue of 1,32,10,039 equity shares of Rs. 2 each at a price of Rs. 75.70 per equity share to Ms. Sushama Nandakumar, one of the promoters of the Company.
The Board also approved proposal to call an Extra ordinary general meeting on August 24, 2010 to seek the approval of members for the above preferential allotment.
The stock was trading at Rs.82.50, up by Rs.1.35 or 1.66%. The stock hit an intraday high of Rs.83.50 and low of Rs.81.90.
The total traded quantity was 1.03 lakhs compared to 2 week average of 2.27 lakhs.
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Union Budget