Mumbai, May 12 (PTI) Telecom product manufacturer Kavveri Telecom today said its board will meet on May 20 to consider an acquisition in Europe.
"A meeting of the board of directors of the company will be held on May 20, 2011, to mull an acquisition in Europe," Kavveri Telecom said in a filing to the Bombay Stock Exchange.
Reacting to the announcement, shares of Kavveri Telecom surged 10.49 per cent to touch a high of Rs 137.35 on the BSE.
Later on, the scrip was trading at Rs 131.50 on the BSE, up nearly 6 per cent from the previous close.
The company had recently launched a linearly Polarised customer premise equipment (CPE) antenna for the North American market. This antenna will serve the need of companies providing LTE and other services in these frequency bands.