{"id":109726,"date":"2023-09-12T13:56:21","date_gmt":"2023-09-12T08:26:21","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=109726"},"modified":"2023-09-12T14:44:27","modified_gmt":"2023-09-12T09:14:27","slug":"microcap-stock-jumps-up-to-3-after-promoters-of-the-company-infuse-substantial-funds","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/microcap-stock-jumps-up-to-3-after-promoters-of-the-company-infuse-substantial-funds\/","title":{"rendered":"Microcap stock jumps up to 3% after Promoters of the company infuse substantial funds\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2446251508\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The shares of a micro-cap company in the auto ancillaries sector gained 3 percent on Tuesday\u2019s early deals to reach an intraday high of \u20b9 138.00 apiece on the Bombay Stock Exchange (BSE). This happened after the company\u2019s board passed a resolution for the allotment of shares to its promoters as they are infusing funds into the company.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1544382506\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>According to an exchange filing, the board of directors of Kinetic Engineering Ltd has passed a resolution for the allotment of equity shares and OCCPS (Optionally Convertible Cumulative Preference Shares) to the company\u2019s promoters.&nbsp;<\/p><p>The board has allotted 22,85,000 equity shares at \u20b9 120.00 per share amounting to \u20b9 27.42 crore to the promoters of the company. Moreover, it has allotted 80,000 OCCPS at \u20b9 120.00 per share amounting to \u20b9 0.96 crore to Jayashree Firodia Trust, promoter of the company.&nbsp;<\/p><p>Kinetic Engineering is engaged in the business of supplying automotive components for the Medium and Heavy Commercial Vehicles (MHCV), automotive and tractor industries. The company caters to both domestic and international markets.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2114365882\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>With a market capitalization of \u20b9 266 crores, Kinetic Engineering is a micro-cap company. It has a low return on equity of 9.89 percent and a debt-to-equity ratio of 1.84. Its shares were trading at a price-to-earnings ratio (P\/E) of 96.33, which is higher than the industry P\/E of 39.87, indicating that the stock might be overvalued as compared to its peers.&nbsp;<\/p><p>The company\u2019s promoters hold a 54.68 percent stake in it, followed by retail investors with a 45.31 percent stake and other domestic institutions with 0.01 percent.&nbsp;<\/p><p><strong>Written by Simran Bafna\u00a0<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-336386572\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The shares of a micro-cap company in the auto ancillaries sector gained 3 percent on Tuesday\u2019s early deals to reach an intraday high of \u20b9 138.00 apiece on the Bombay Stock Exchange (BSE). This happened after the company\u2019s board passed a resolution for the allotment of shares to its promoters as they are infusing funds [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":98559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[4865,31],"tags":[],"class_list":["post-109726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Microcap stock jumps up to 3% after Promoters of the company infuse substantial funds\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"The shares of a micro-cap company in the auto ancillaries sector gained 3 percent on Tuesday\u2019s early deals to reach an intraday high of \u20b9 138.00 apiece on the Bombay Stock Exchange (BSE). 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