Koutons Retail clarifies on shares acquisition by Premji

Koutons Retail India Ltd has clarified with reference to the news item appearing in a leading financial daily titled "Premji buys 2% in Koutons for Rs 20 Crores", that there were certain inaccuracies noticed in the said news.

Premji has bought 3,00,000 shares in the Company, which does not amount to 2% of the Koutons share capital. The total number of out standing shares of Koutons is 3,05,51,397 shares, out of that Mr. Azim Premji has bought 2,96,402 shares which amounts to less than 1% (i.e. 0.97%) of the total out standing shares of the Company. Market capitalization of Koutons as on April 23, 2008 is Rs 2,400 crores (Rs 790*3.05)".

The stock was trading at Rs.790, up by Rs.1.85 or 0.23%. The stock hit an intraday high of Rs.826 and low of Rs.775.10.

The total traded quantity was 517 compared to 2 week average of 1746.

Source : Equity Bulls

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