Mahindra & Mahindra Financial to issue preference shares for Rs.50 crores

Mahindra & Mahindra Financial Services Ltd has announced that the Board of Directors of the Company at its meeting held on April 24, 2007 has approved the issue of Preference Shares upto an amount not exceeding Rs 50 crores on a private placement basis on such terms and conditions as may be decided at the time of issue subject to the approval of members at the Annual General Meeting.

The stock was trading at Rs.234.80, up by Rs.2.80 or 1.21%. The stock hit an intraday high of Rs.237 and low of Rs.233. The total traded quantity was 1090 compared to 2 week average of 48229.

Source : Equity Bulls

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