Kellton Tech Solutions was locked in 5% upper circuit at Rs 208.10 at 11:53 IST on BSE after the company's board of directors approved allotment of equity shares to persons belonging to the promoter and non-promoter group.
The announcement was made after market hours yesterday, 4 January 2016.Meanwhile, the BSE Sensex was down 46.25 points or 0.18% to 25,577.10
On BSE, so far 2.30 lakh shares were traded in the counter, compared with an average volume of 2.47 lakh shares in the past one quarter. The stock hit a high of Rs 208.10 so far during the day, which is a record high for the counter. The stock hit a low of Rs 197 so far during the day. The stock had hit a 52-week low of Rs 30 on 2 February 2015. The stock had outperformed the market over the past one month till 4 January 2016, rising 30.91% compared with 0.06% decline in the Sensex. The scrip also outperformed the market in past one quarter, gaining 155.25% as against Sensex's 2.28% fall.
The small-cap company has an equity capital of Rs 21.74 crore. Face value per share is Rs 5.
Kellton Tech Solutions said that the meeting of board of directors of the company held yesterday, 4 January 2016, has considered and approved allotment of 30 lakh equity shares pursuant to conversion of 30 lakh warrants to persons belonging to the promoter group and non-promoter group.
On a consolidated basis, Kellton Tech Solutions' net profit rose 11.4% to Rs 9.57 crore on 6.18% rise in total income to Rs 110.18 crore in Q2 September 2015 over Q1 June 2015.
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Kellton Tech Solutions is a full-grown software development company, offering end-to-end IT solutions, strategic technology consulting and product development services in Web, SMAC (Social, Mobile, Analytics, Cloud), ERP-BPM, and IoT space.
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