Date:22/08/2006 URL: http://www.thehindubusinessline.com/2006/08/22/stories/2006082203661500.htm

Back KEI Ind: Up on equity dilution talk

The stock of cable power company KEI Industries has appreciated by 42 per cent month-on-month on the BSE. The counter, which ended about 2 per cent higher on Monday at Rs 307.70 on the BSE, has gained almost 14 per cent week-on-week.

Dealers said rumours of a significant corporate development in the offing, has renewed market interest in this stock. According to market talk, the company is looking to dilute equity to fund its new unit, in Uttaranchal.

The new unit, to manufacture low-tension and high-tension power cables, is to cost around Rs 175 crore.

Deeptha Rajkumar