Micro Technologies (India) hardens on allotment of warrants to promoters, non promoter

The company made this announcement after market hours on Wednesday, 7 December 2011.

Meanwhile, the BSE Sensex was down 224.37 points, or 1.33% to 16,652.69.

On BSE, 18,000 shares were traded in the counter as against average daily volume of 26,742 shares in the past one quarter.

The stock hit a high of Rs 159.90 and a low of Rs 155 so far during the day. The stock had hit a 52-week low of Rs 99 on 11 August 2011. The stock had hit a 52-week high of Rs 172.50 on 4 January 2011.

The stock had outperformed the market over the past one month till 7 December 2011, surging 20.79% compared with the Sensex's 3.9% fall. The scrip had also outperformed the market in past one quarter, soaring 30.42% as against 1.1% decline in the Sensex.

The small-cap security solutions provider has an equity capital of Rs 14.37 crore. Face value per share is Rs 10.

Micro Technologies (India) said its promoters--Micro Capitals, Dr P Sekhar, and Jayanthi Sekhar were allotted a total of 10 lakh warrants and a non-promoter, Praval Engineering LLP was allotted 5 lakh warrants convertible into one equity share at an allotment committee meeting held on 6 December 2011.

On a consolidated basis, Micro Technologies (India)'s net profit rose 27.89% to Rs 37.27 crore on 9.85% growth in net sales to Rs 177.52 crore in Q2 September 2011 over Q1 June 2011.

Micro Technologies (India) provides security solutions for its clients across the globe.

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