Mahindra Composites Board to consider Rights Issue

Mahindra Composites Ltd has announced that a meeting of the Board of Directors of the Company will be held on February 14, 2011, inter-alia, to consider issue of equity shares of Rs. 10 each of the Company to the existing equity shareholders of the Company on a rights basis (Rights issue) subject to a applicable statutory and regulatory approvals.

The stock was trading at Rs.58.50, down by Rs.0.20 or 0.34%. The stock hit an intraday high of Rs.60.45 and low of Rs.57.

The total traded quantity was 1744 compared to 2 week average of 2319.

Source : Equity Bulls

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