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KCP to sell Biotech Unit

Posted On: 2012-12-08 21:02:58

The Board of Directors of KCP Limited at its meeting held on December 07, 2012, has declared pro-rata interim dividend on 200,00,000 12% Redeemable, Cumulative, Non-convertible Preference Shares of Rs. 10/- each held by M/s. Tata Capital Financial Services Ltd from April 01, 2012 to December 08, 2012;

The Board has approved a proposal to sell/transfer or otherwise dispose of the Biotech Unit of the Company Situated at Genome Valley, Turkapally (village), Alexandria Knowledge Park, Shameerpet, R.R. District, Andhra Pradesh and authorized the conduct of a Postal Ballot to obtain consent of shareholders for the same.

The KCP Limited stock closed the day at Rs.37.15, down by Rs.1 or 2.62%. The stock hit an intraday high of Rs.38.70 and low of Rs.36.90.

The total traded quantity was 0.28 lakhs compared to 2 week average of 0.17 lakhs.

Source: Equity Bulls

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