Kirloskar Oil Engines signs agreement for acquiring La-Gajjar Machineries Pvt Ltd
DSIJ Intelligence / 21 Jun 2017
Kirloskar Oil Engines Limited is engaged in manufacturing of diesel engines, generating sets and agricultural pumpsets. It signed definitive agreement for the acquisition of 100% equity share of La-Gajjar Machineries Private Ltd.
Kirloskar Oil Engines Limited is engaged in manufacturing of diesel engines, generating sets and agricultural pump sets. It signed definitive agreement for the acquisition of 100% equity share of La-Gajjar Machineries Private Ltd. The board of Kirloskar Oil Engines had approved the proposal for the acquisition on Monday.
Kirloskar Oil Engines traded positive post lunch hours gaining over 1.14% at Rs 391.40 per share on the BSE.
As per market observers, the Company has been maintaining a healthy dividend payout of 46.94%. On yearly basis, the stock has outperformed BSE Midcap index and BSE Auto Index. The stock on NSE has attracted a traded volume shares and a traded value of lakhs.
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