Kinetic Engineering allots 1782774 shares

Kinetic Engineering Ltd has announced that at the meeting of the Allotment Committee of the Board the Company held on August 12, 2009, inter alia, have allotted 17,82,774 shares.

Pursuant to the Order, being Order dated July 27, 2009 passed by the Hon'ble Bombay High Court, approving a Scheme of Arrangement involving, inter alia, the merger of Auto Components Division and Investments (the Remaining Undertaking) of Jaya Hind Sciaky Ltd (JHS), with Kinetic Engineering Ltd (KEL), KEL has allotted 17,82,774 Equity Shares to the shareholders of JHS, in proportion to their shareholding as at the close of July 27, 2009 (Record Date), in accordance with the said approved Scheme. The subscribed and paid-up capital of the Company, accordingly, stands increased by Rs 1,78,27,740/-, to Rs 9,28,70,780/-.

The stock closed the day at Rs.56.45, up by Rs.2.65 or 4.93%. The stock hit an intraday high of Rs.56.45 and low of Rs.56.45.

The total traded quantity was 1236 compared to 2 week average of 837.

Source : Equity Bulls

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