Kavveri Telecom allots 8180 shares

Kavveri Telecom Products Ltd has announced that, On April 30, 2010 the Compensation Committee has passed resolution recommending allotment of 8180 (Eight thousand one hundred and eighty only) equity shares in the share capital of the Company to 56 eligible employees who have exercised options.

Further, on April 30, 2010, on the basis of recommendations of the Compensation Committee, the Shareholder's Grievance Committee has passed resolution for allotment of 8180 (Eight thousand one hundred and eighty only) equity shares in the share capital of the Company to 56 eligible employees who have exercised options.

Further the Company has informed that, vide resolution passed on March 11, 2010 the Compensation Committee had Granted 67,000 Stock Options to 1 eligible employee.

The stock was trading at Rs.106.50, up by Rs.2.35 or 2.26%. The stock hit an intraday high of Rs.106.95 and low of Rs.102.20.

The total traded quantity was 43897 compared to 2 week average of 77720.

Source : Equity Bulls

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