Kinetic Engineering touches roof on the BSE
Kinetic Engineering is locked its upper circuit limit at Rs. 177.30, up by 8.40 points or 4.97% from its previous closing of Rs. 168.90 on the BSE.
The scrip opened at Rs. 173.70 and has touched a high and low of Rs. 177.30 and Rs. 172.00 respectively. So far 12612 shares were traded on the counter.
The BSE group 'XT' 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. 143.00 on 13-Jan-2025.
Last one week high and low of the scrip stood at Rs. 184.00 and Rs. 167.15 respectively. The current market cap of the company is Rs. 394.34 crore.
The promoters holding in the company stood at 59.35%, while Institutions and Non-Institutions held 7.13% and 33.52% respectively.
Kinetic Engineering has received approval from the Bombay Stock Exchange (BSE) for the issuance of 1,03,56,725 warrants, amounting to Rs 177 crore.
To further strengthen its financial position and accelerate growth, the first tranche of Rs 55 crore will be infused into the business by March 31, 2025. The funds will be allocated towards capital expenditure, tooling, and overall growth initiatives, with a significant portion directed towards Kinetic Watts and Volts, the company’s subsidiary focused on the growing electric vehicle market.
Kinetic Engineering (Kinetic) is a manufacturer of high technology components and assemblies with a focus on Power Train Components and assemblies.
