Kavveri Telecom Products to consider preferential issue on Feb 02, 2011

Kavveri Telecom Products Ltd has announced that a meeting of the Board of Directors of the Company will be held on February 02, 2011, to allot (i) 40 lakhs equity shares to promoters on preferential basis, (ii) 10 lakhs warrants convertible into equity shares to promoters on preferential basis and (iii) 20 lakhs warrants convertible into equity shares to strategic investors / non promoters on preferential basis.

The stock closed the day at Rs.123.70, up by Rs.7.90 or 6.82%. The stock hit an intraday high of Rs.129 and low of Rs.115.15.

The total traded quantity was 1.98 lakhs compared to 2 week average of 0.84 lakhs.

Source : Equity Bulls

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