Kavveri Telecom to increase investment in Kavveri Technologies Inc, Canada

Kavveri Telecom Products Ltd has announced that the Board has approved to increase the investment in its wholly owned subsidiary, M/s. Kavveri Technologies Inc., Ontario, Canada from USD 2.5 Million to USD 5.0 Million.

The company has received large orders recently from Hutch and Idea Cellular to be executed within this year. The company is expected to post robust growth with Cellular Operators in India expanding the footprint across the country.

The stock closed on Friday at Rs.57, up by Rs.1.85 or 3.35%. The total traded quantity was 17805 shares compared to 2 week average of 18394. The stock hit an intraday high of Rs.57.50 and low of Rs.55.25.

Source : Equity Bulls

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