Kinetic Motor to allots 10 Lakh equity shares

Kinetic Motor Company Ltd has announced that Committee of Board of Directors (CoD) of the Company at its meeting held on December 29, 2007, has decided to allot 10,00,000 number of equity shares of Rs 10/- each at a premium of Rs 55/- per share on December 30, 2007 to M/s. Kinetic Engineering Ltd (KEL) on conversion of 10,00,000 numbers of Convertible Cumulative Preference Shares of Rs 65/- each issued to KEL earlier.

The Stock was trading at Rs.41.10, up by Rs.1.95 or 4.98%. The stock hit an intraday high of Rs.41.10 and low of Rs.40.20.

The total traded quantity was 8478 compared to 2 week average of 31210.

Source : Equity Bulls

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