KDDL was up 7.35% to Rs 216.90 at 9.53 IST on BSE after the company said it allotted 2.64 lakh zero coupon convertible warrants to a promoter group entity.
The announcement was made after market hours yesterday, 21 December 2016.
Meanwhile, the S&P BSE Sensex was down 140.21 points or 0.53 % at 26,092.29.
On the BSE, 8,381 shares were traded on the counter so far as against the average daily volumes of 4,166 shares in the past one quarter. The stock had hit a high of Rs225 and a low of Rs 215.30 so far during the day.
The stock had 52-week high of Rs 365 on 29 December 2015 and a 52-week low of Rs 162 on 20 May 2016. The stock had outperformed the market over the past one month till 21 December 2016, advancing 2.10% compared with the Sensex's 1.85% rise. The scrip had, however, underperformed the market over the past one quarter declining 11.67% as against the Sensex's 7.95% fall.
The small-cap company has equity capital of Rs 10.08 crore. Face value per share is Rs 10.
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KDDL announced that the committee for preferential issue of zero coupon convertible warrants-2016, at its meeting held yesterday, 21 December 2016, allotted 2.64 lakh zero coupon convertible warrants each convertible into one equity share at Rs 265 per share, to Swades Capital LLC, a promoter group entity.
On a consolidated basis, KDDL reported net loss of Rs 0.13 crore in Q2 September 2016 as against net profit of Rs 5.31 crore in Q2 September 2015. Net sales rose 7.48% to Rs 116.45 crore in Q2 September 2016 over Q2 September 2015.
KDDL is a diverse company focusing on the business of watches and precision engineering. It has established India's largest retail chain for Swiss Watches - ETHOS Swiss Watch Studios.
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