Kinetic Engineering rises on planning to invest Rs 30 crore in Kinetic Watts and Volts
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Kinetic Engineering is currently trading at Rs. 170.15, up by 1.60 points or 0.95% from its previous closing of Rs. 168.55 on the BSE.
The scrip opened at Rs. 166.50 and has touched a high and low of Rs. 172.00 and Rs. 166.50 respectively. So far 10106 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 235.90 on 27-Jun-2024 and a 52 week low of Rs. 121.65 on 25-Oct-2023.
Last one week high and low of the scrip stood at Rs. 174.80 and Rs. 165.00 respectively. The current market cap of the company is Rs. 377.63 crore.
The promoters holding in the company stood at 59.35%, while Institutions and Non-Institutions held 7.91% and 32.74% respectively.
Kinetic Engineering is planning to invest Rs 30 crore in its subsidiary -- Kinetic Watts and Volts as it looks to focus on expanding research, development, and manufacturing capabilities of the new venture. This strategic infusion builds upon the company's initial investment of Rs 18.5 crore, raising the total investment to Rs 48.5 crore. The investment will enable the company to create efficient, reliable, and advanced electric mobility solutions for its customers in the Indian market.
Kinetic Engineering (Kinetic) is a manufacturer of high technology components and assemblies with a focus on Power Train Components and assemblies.
