Kalpataru Power to invest in JMC Projects Ltd

Kalpataru Power Transmission Ltd has announced that the Board of Directors of the Company at its meeting held on October 06, 2010, has decided to invest Rs. 90,04,50,000/- in JMC Projects (India) Ltd. towards preferential issue of 43,50,000 equity shares of Rs.10/- each at price of Rs. 207/- per share subject to necessary permissions, approvals required under the applicable rules and regulation including Companies Act,1956 and SEBI Regulations.

The stock closed the day at Rs.189.80, down by Rs.2.20 or 1.15%. The stock hit an intraday high of Rs.196 and low of Rs.188.10.

The total traded quantity was 0.59 lakhs compared to 2 week average of 2.63 lakhs.

Source : Equity Bulls

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