MSP Steel & Power to issue CRPS worth Rs. 120 crore

The Board of Directors of MSP Steel & Power Ltd at its meeting held on July 06, 2013, has decided by the Board to issue 6% Non Cumulative Redeemable Preference amounting to Rs. 120.00 Cr. For the above issue the Company will increase its authorized share capital. The Company shall obtain the approval of the shareholders through postal ballot.

Shares of MSP Steel & Power Ltd was last trading in BSE at Rs.19.40, down by Rs.0.15 or 0.77%. The stock hit an intraday high of Rs.21.40 and low of Rs.19.15.

The total traded quantity was 469 compared to 2 week average of 4329.

Source : Equity Bulls

Keywords