01-01-1970 12:00 AM | Source: Accord Fintech
Bajaj Electricals jumps on completing acquisition of Nirlep Appliances
News By Tags | #1489 #5958 #572

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Bajaj Electricals is currently trading at Rs. 1073.00, up by 12.85 points or 1.21% from its previous closing of Rs. 1060.15 on the BSE.

The scrip opened at Rs. 1060.15 and has touched a high and low of Rs. 1083.10 and Rs. 1055.75 respectively. So far 3490 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1588.55 on 17-Sep-2021 and a 52 week low of Rs. 911.05 on 25-Mar-2021.

Last one week high and low of the scrip stood at Rs. 1083.65 and Rs. 1018.05 respectively. The current market cap of the company is Rs. 12302.78 crore.

The promoters holding in the company stood at 63.01%, while Institutions and Non-Institutions held 23.36% and 13.64% respectively.

Bajaj Electricals has completed the procedure towards purchase/acquisition of additional 2,671 (0.37%) equity shares in Nirlep Appliances (Nirlep), a subsidiary of the Company, from all the other shareholders of Nirlep, for a cash consideration at Rs 695.81 per equity share. With the above purchase/acquisition, the entire 100% equity share capital of Nirlep is now legally and beneficially held by the Company along with its nominees, and consequently, Nirlep has now become a wholly-owned subsidiary company of the Company.

Bajaj Electricals is an electrical equipments manufacturing company. It is engaged in the manufacturing of domestic appliances such as water heaters, mixers, food processors, microwave ovens, air coolers, steam & dry irons, etc.