Kavveri Telecom gains due to overseas buy

DALAL STREET SPIKES

Kavveri Telecom Products was up 5 per cent to Rs 294.75 on BSE after acquiring two foreign companies through its Canada-based arm. A total of 1.06 lakh shares were traded on the counter. The scrip had an average daily volume of 38,623 shares in the past quarter.

The company acquired the US-based Spotwave Wireless and Canada-based Spotwave Wireless through its wholly owned subsidiary Kavveri Technologies in Canada.

The mid-cap scrip outperformed the market over the past one month till 15 January, gaining by 26.81 per cent compared with the Sensex's returns of 5.14 per cent. Spotwave Wireless specialises in providing products for indoor wireless coverage solutions.