KCP allots Preference Shares to Tata Capital Ltd

KCP Ltd has announced that the Board of Directors of the Company at its meeting held on October 29, 2009 have constituted Share Allotment Committee consisting of Dr. V. L. Dutt, Chairman & Managing Director, Smt. V. L. Indira Dutt, Joint Managing Director, Smt. Kavitha D. Chitturi, Executive Director, Sri. V. Gandhi, Technical Director and Sri. A. Ramakrishna an Independent Director as members of the Share Allotment Committee to allot 200,00,00,000 12% Redeemable, Cumulative, Non-convertible Preference Shares of Rs. 10/- each at par on preferential basis to M/s. Tata Capital Ltd.

Further the Company has informed that, Share Allotment Committee at its Meeting held on December 09, 2009, has allotted the 200,00,000, 12% Redeemable, Cumulative, Non-Convertible Preference Shares of Rs. 10/- each at par on preferential basis as fully paid up to M/s. Tata Capital Ltd, Mumbai.

The stock closed the day at Rs.289.30, up by Rs.11.45 or 4.12%. The stock hit an intraday high of Rs.293.40 and low of Rs.276.

The total traded quantity was 48172 compared to 2 week average of 16191.

Source : Equity Bulls

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