Kinetic Engineering

Kinetic Engineering is one auto company which is least talked about on the streets as the fancy is on an ebb. Its main foray is autorickshaws and last week it was in the news after it announced that it sold 9000 units of Kinetic Safar, the electric three-wheeler in FY17, selling mainly through institutional sales and through the government. It plans to go aggressive this fiscal and targeted a sales number of 12,000 units. It is also planning to start exports this year to Asian countries like Sri Lanka, Bangladesh, and Nepal where the demand for e-rickshaws and electric vehicles is high.

Another news which came in from the company is that it has scheduled a Board meeting on 8th April to consider the proposal to issue preferential shares. Promoters stake is currently at 72.86%.

The stock price, intra day, rose almost 11% to Rs.84.50 and is now at Rs.79 levels, up some 2.5%. Its 52-week high is at Rs.109.80.