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Kirloskar Brothers zooms on inking agreement to acquire 26% stake in Sunsure Solarpark

20 Sep 2024 Evaluate

Kirloskar Brothers is currently trading at Rs. 1689.25, up by 69.95 points or 4.32% from its previous closing of Rs. 1619.30 on the BSE.

The scrip opened at Rs. 1631.10 and has touched a high and low of Rs. 1713.50 and Rs. 1594.40 respectively. So far 9155 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2684.70 on 08-Jul-2024 and a 52 week low of Rs. 803.05 on 03-Oct-2023.

Last one week high and low of the scrip stood at Rs. 1713.50 and Rs. 1577.25 respectively. The current market cap of the company is Rs. 13372.46 crore.

The promoters holding in the company stood at 65.95%, while Institutions and Non-Institutions held 14.92% and 19.13% respectively.

Kirloskar Brothers along with its wholly owned subsidiary -- The Kolhapur Steel have entered into a Share Subscription and Shareholders Agreement (SSHA) for acquisition of 26% of equity share capital (upto Rs 5.00 crore) of Sunsure Solarpark Nineteen (Sunsure Solarpark). This investment is intended for the purpose of solar power captive consumption, as per the provisions of the Electricity Act, 2003.

The completion of acquisition i.e. subscription of shares will be completed in tranches as mutually agreed by the parties, tentatively within 6 months from execution of SSHA. 

Kirloskar Brothers (KBL) is a world-class pump manufacturing company with expertise in engineering and manufacture of systems for fluid management.


Kirloskar Brothers Share Price

1588.50 58.05 (3.79%)
10-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Kirloskar Brothers 1588.50
KSB 892.50
Shakti Pumps (I) 510.70
Elgi Equipments 512.95
Kirloskar Pneumatic 1202.05
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