Moneycontrol
Sep 09, 2016 01:33 PM IST | Source: Moneycontrol.com

Mcnally Bharat up 12% after promoters raise stake in co

With this, promoters hold 1.24 crore equity shares, representing 23.26 percent of the paid-up capital of the company (from 19.51 percent stake as of June 2016).

 
 
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Moneycontrol Bureau


Mcnally Bharat Engineering shares gained 12 percent intraday Friday after promoters increased their shareholding in the company.


"We have acquired 25 lakh equity shares of Rs 10 each of Mcnally on September 8 by way of conversion of balance 25 lakh warrants into 1 equity share each (out of 30 lakh warrants allotted to company on March 13," the Kolkata-based engineering company said in its filing.


Promoters include Williamson Magor & Company and persons acting in concert.


With this, promoters hold 1.24 crore equity shares, representing 23.26 percent of the paid-up capital of the company (from 19.51 percent stake as of June 2016), the company said.

At 13:08 hours IST, the scrip of Mcnally Bharat Engineering was quoting at Rs 76.40, up Rs 5.60, or 7.91 percent amid high volumes on the BSE.

Posted by Sunil Shankar Matkar

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