Shares of Bajaj Electricals rallied over 4 per cent on the Bombay stock Exchange after the company said it has exercised its right to acquire 28 per cent stake in Starlite Lighting (SLL). Following the announcement, shares of the company gained as much as 4.57 per cent to hit intra-day high of Rs 344.85 apiece on the Bombay Stock Exchange.
The stocks were currently trading at Rs 342.20 against previous close price of Rs 329.75. In a similar fashion, shares of the company were trading 3.46 per cent higher at Rs 342.15 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 31,867.64, up by 152 points, or 0.48 per cent, at 12:55 hours.