Kiri Inds rallies 8%; board approves allotment of 12.9 lakh shares to promoter group

Kiri Industries Ltd has announced that its Board of Directors has approved allotment of 12,94,000 equity shares upon conversion of warrants.

April 08, 2016 3:02 IST | India Infoline News Service
News Newspaper Text
Kiri Industries Ltd has announced that its Board of Directors has approved the allotment of 12,94,000 equity shares, upon conversion of warrants issued to Anupama Kiri, to the promoter group of the company on a preferential basis in accordance with SEBI (Issue of Capital Disclosure Requirements), Regulations, 2009.

Kiri Industries Ltd is currently trading at Rs. 199.5, up by Rs. 15.8 or 8.6% from its previous closing of Rs. 183.7 on the BSE.
The scrip opened at Rs. 184.8 and has touched a high and low of Rs. 202 and Rs. 184.1 respectively. So far 2143623(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 487.72 crore.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 184 on 07-Apr-2016 and a 52 week low of Rs. 72.1 on 11-Feb-2016. Last one week high and low of the scrip stood at Rs. 184 and Rs. 106.7 respectively.
The promoters holding in the company stood at 34.64 % while Institutions and Non-Institutions held 27 % and 38.36 % respectively.
The stock is currently trading above its 200 DMA.

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