Kavveri Telecom to raise Rs 30 crore through rights issue

Kavveri Telecom Products Ltd has announced that the Board of Directors of the Company at its meeting held on June 17, 2009, has approved the issue of Equity Shares of the Company on "rights basis" with an issue size of not more than Rs 30 crores and an EGM will be held for obtaining members approval for the same. The Managing Director is authorized to fix the date etc. for the ensuing EGM.

The stock was trading at Rs.60.90, down by Rs.3.20 or 4.99%. The stock hit an intraday high of Rs.61.05 and low of Rs.60.90.

The total traded quantity was 9937 compared to 2 week average of 70716.

Source : Equity Bulls

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