Kirloskar Electric Company touches upper circuit on getting nod to sell land at Hubbali

Kirloskar Electric Company is locked its upper circuit limit at Rs. 25.40, up by 1.20 points or 4.96% from its previous closing of Rs. 24.20 on the BSE.

The scrip opened at Rs. 25.40 and has touched a high and low of Rs. 25.40 and Rs. 25.40 respectively. So far 77928 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 30.70 on 12-Oct-2021 and a 52 week low of Rs. 11.95 on 06-Apr-2021.

Last one week high and low of the scrip stood at Rs. 24.20 and Rs. 21.50 respectively. The current market cap of the company is Rs. 168.69 crore.

The promoters holding in the company stood at 49.51%, while Institutions and Non-Institutions held 4.28% and 46.21% respectively.

Kirloskar Electric Company has received approval from its board for the sale of company’s non-core asset i.e., immovable property admeasuring 32 acres situated at Hubbali, Karnataka on such terms and conditions as set out in the agreement to sell. The total consideration for the proposed sale would be Rs 100 crore.

Kirloskar Electric Company 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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