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KPIT Cummins board meet on Oct 17 to consider issue of shares to Cummins Inc on preferential basis
Tuesday, October 9, 2007
KPIT Cummins Infosystems, informed that a meeting of the board of directors of the company, will be held on Oct. 17, 2007, to consider the un-audited financial results of the company for the quarter ended Sep. 30, 2007.
The board would also consider issuance of equity shares of the company to Cummins Inc., on a preferential basis against a cash consideration, at a price to be determined, in accordance with the provisions of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000.
Shares of the company declined Rs 1.10, or 0.95%, to settle at Rs 114.10. The total volume of shares traded was 73,032 at the BSE. (Monday)
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