Kirloskar Electric Company zooms on inking agreement to sell non-core asset

07 Jan 2019

Kirloskar Electric Company is currently trading at Rs. 19.50, up by 2.35 points or 13.70% from its previous closing of Rs. 17.15 on the BSE.

The scrip opened at Rs. 18.70 and has touched a high and low of Rs. 20.15 and Rs. 18.25 respectively. So far 36816 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 52.30 on 15-Jan-2018 and a 52 week low of Rs. 14.15 on 01-Oct-2018.

Last one week high and low of the scrip stood at Rs. 20.15 and Rs. 17.00 respectively. The current market cap of the company is Rs. 113.90 crore.

The promoters holding in the company stood at 49.50%, while Institutions and Non-Institutions held 6.15% and 44.35% respectively.

Kirloskar Electric Company has signed an agreement with Brigade Enterprises for sale of non-core asset of the company situated at Subramanyanagar, Industrial Suburb, Rajajinagar, Bangalore admeasuring 1.065 Acres (46,391 sq.ft.). The Consideration for the proposed sale will be Rs 55 crore.

The expected date of completion of the agreement will be on or before March 31, 2019 subject to receipt of relevant approvals.

Kirloskar Electric Company (KEC) is one of the India’s leading manufacturers of electrical and power equipment. The company was established in 1946 by Ravi L Kirloskar.

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Kirloskar Electric Share Price

17.80 0.84 (4.95%) Jan 28, 18:01
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Siemens 1506.50
ABB India 1329.60
Havells India 616.50
CG Power & Indl.Soln 10.16
Apar Inds 395.10
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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