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Kkalpana Industries soars on getting nod to hold 98% of share capital in Free Zone

Kkalpana lndustries (India) is currently trading at Rs. 17.70, up by 0.45 points or 2.61% from its previous closing of Rs. 17.25 on the BSE.

The scrip opened at Rs. 18.25 and has touched a high and low of Rs. 18.25 and Rs. 16.80 respectively.

The BSE group ‘X’ stock of face value Rs. 2 has touched a 52 week high of Rs. 35.90 on 19-Dec-2018 and a 52 week low of Rs. 13.00 on 01-Oct-2019.

Last one week high and low of the scrip stood at Rs. 18.50 and Rs. 16.80 respectively. The current market cap of the company is Rs. 166.51 crore.

The promoters holding in the company stood at 74.84%, while Non-Institutions held 25.16% stake in the company.

Kkalpana Industries (India) has received approval to hold 98% of the share capital of the Free Zone Limited Liability Company to be established under the laws of the Sultanate, in Sohar Free Zone, Oman. The approximate proposed investment in the said company is $3 million. The Board of Directors of the Company at its meeting held on October 28, 2019 has approved the same.

Kkalpana Industries is part of a dynamic industrial house of Surana’s. It is engaged in manufacturing and sale of polyvinyl chloride (PVC) and cross linked polyethylene (XLPE) compound.

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