Kinetic Engineering jumps on receiving approval to merge KMCL with itself

Kinetic Engineering Ltd. | Auto Ancillary | Automobiles | BSE: 500240 | NSE: KINETICENG

12 Dec 2011 Evaluate

Kinetic Engineering is currently trading at Rs. 110.50, up by 6.50 points or 6.25% from its previous closing of Rs. 104.00 on the BSE.

The scrip opened at Rs. 110.00 and has touched a high and low of Rs. 119.90 and Rs. 108.00 respectively. So far 3040 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 205.20 on 07-Jan-2011 and a 52 week low of Rs. 77.00 on 23-Nov-2011.

Last one week high and low of the scrip stood at Rs. 119.90 and Rs. 96.00 respectively. The current market cap of the company is Rs. 109.00 crore.

The promoters holding in the company stood at 57.45% while Institutions and Non-Institutions held 1.38% and 41.18% respectively.

Kinetic Engineering (KEL) has received its board’s approval to merge Kinetic Motor (KMCL) with itself in the swap ratio of 31 shares of KMCL for every four of KEL. The merged entity will now hold Kinetic Motor’s 17% stake in Mahindra Two Wheelers.

KEL’s stake in Mahindra Two Wheelers was indirectly, through Kinetic Motor, which had no significant operations. KMCL was predominantly becoming an investment arm.

The board has also approved the appointment of Sulajja Firodia Motwani, a director of the company, as vice chairperson of the merged entity.

Kinetic Engineering lowered its total debt to Rs 23 crore from Rs 105 crore a year ago through a sale of non-core assets such as land and from profits earned through stake sale in KMCL to Mahindra group.

KEL manufactures a variety of automobile components. The company manufactures transmission components, engine components, as well as gearbox and assemblies for auto and non-auto products. Kinetic also manufactures various body components, has a press shop, paint shop, and assembles complete vehicles for some of its customers.

Kinetic Engg Share Price

244.90 -5.85 (-2.33%)

30-Apr-2026 16:59 View Price Chart

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SamvardhanaMotherson	121.30
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