Kavveri Tele surges on Canadian buy

Kavveri Telecom Products rose 4.15 per cent to Rs 48.9 on the acquisition of a design and development firm in Canada by the company's subsidiary. Kavveri Technologies, the wholly owned subsidiary has acquired Trackcom Systems International, Canada. With this acquisition, Kavveri will have access to portfolio of RF products and antennas useful for space, defence and telecom applications. The stock opened at Rs 48 and made an intraday high of Rs 49.25 and a low of Rs 47. The scrip has a 52-week high of Rs 135 (September 5, 2008) and a low of Rs 22.2 (March 9, 2009).