Kalindee Rail Nirman (Engineers) is currently trading at Rs. 76.40, up by 3.85 points or 5.31% from its previous closing of Rs. 72.55 on the BSE.
The scrip opened at Rs. 75.40 and has touched a high and low of Rs. 77.20 and Rs. 73.40 respectively. So far 234067 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 111.70 on 13-Dec-2012 and a 52 week low of Rs. 44.15 on 28-Mar-2013.
Last one week high and low of the scrip stood at Rs. 77.20 and Rs. 57.55 respectively. The current market cap of the company is Rs. 94.28 crore.
The promoters holding in the company stood at 15.63% while Institutions and Non-Institutions held 2.78% and 81.58% respectively.
In a bid to avert rival Jupiter Metal’s plans to acquire a 30% stake in Kalindee Rail via conditional open offer, the Gurgaon-based railway infrastructure company has decided to issue 24.90% equity by way of preferential allotment of equity shares to rail wagon maker Texmaco Rail & Engineering.
Kalindee Rail’s board of directors, at their meeting held on July 13, approved the issue of preferential allotment of 41.10 lakh equity shares at Rs 65 a share or higher as per the norms laid down by the capital market regulator.
Jupiter Metal had made an open offer to acquire 3.72 million equity shares of Rs 10 each, constituting 30% of the paid-up capital of Kalindee Rail Nirman (Engineers) at price of Rs 65 per share. At present, about 38,000 individual shareholders control 63.75% stake in the company, while promoters are holding 15.6% stake in the company. However, Jupiter Metal does not hold any stake in Kalindee Rail. Incidentally, the Securities and Exchange Board of India (SEBI)’s takeover guidelines allows a company to launch an open offer without holding any shares via voluntary open offer.
Kalindee Rail Nirman popularly known as “KALINDEE”, stands as the forerunner in the execution of the major Railway Signaling & Telecommunication projects in India. Dedicated and sincere work has earned it a good reputation. In Railways, KALINDEE is now a trusted name for successful & timely execution of works with highest level of quality with state of the art technology.
| Company Name | CMP |
|---|---|
| Larsen & Toubro | 3482.50 |
| Rail Vikas Nigam | 421.65 |
| NCC | 272.20 |
| KEC International | 992.10 |
| Kalpataru Projects | 1143.85 |
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