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Shares of this micro-cap stock hit the 5 percent upper circuit in Monday’s trading session after the company’s Board is set to meet next week for various purposes, the highlights being the consideration of a fundraising plan as well as preferential allotment of shares. 

With a market capitalization of Rs 329.64 crores, the stocks of Kings Infra Ventures Limited started their trading session on Monday at Rs 134.90, and, post few trading minutes, the company’s shares went on to hit the 5 percent upper circuit at Rs 140.20 apiece. The scrip is inching towards its 52-week high price recorded at Rs 157.80. 

The company, in a recent filing with the exchange today, intimated that the Board of Directors of the company will be meeting on November 27th, 2023 to discuss various things as per the agenda. 

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The highlights of the meeting comprise the consideration and approval for raising capital and allotment of the equity shares by way of preferential allotment on a private placement basis subject to statutory approvals. 

During the recent financial quarters, the company has reported a marginal increase in its basic business parameters such as operating revenues and after-tax profits. The former increased from Rs 20.96 crores during Q1FY23-24 to Rs 21.23 crores during Q2FY23-24, and, the latter, during the same period, stayed uniform at levels of Rs 2.15 crores. 

According to the shareholding pattern data available for the September 2023 quarter, the company’s Promoters hold a 71.69 percent stake followed by the Public (retail) investors holding the remaining 28.31 percent stake in the company. 

Kings Infra Ventures Limited is a company based in India having two operating segments such as the ‘Infrastructure’ Division and the ‘Aquaculture’ Division with the latter generating the maximum revenue. Geographically, the company derives a majority of its revenue from domestic operations within India. 

Written by Amit Madnani 

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