Kirloskar Electric Company Ltd to sell non-core asset

Kirloskar Electric Company Limited has executed a Sale Deed on December 08, 2022 effecting the sale of the Company’s non-core asset of 10.81 Acres of land situated at Gudimangalam village, Udumalpet Taluk, Tirupur district, Tamil Nadu for a consideration of Rs. 2,10,00,000/- (Rupees Two crores Ten Lakhs only).

The buyers, Mr. P Dhandapani & Mr. M Chinnasamy are third-party buyers, neither of them belongs to the Promoter / Promoter Group / Group companies and the transaction does not fall under the ambit of Related Party Transactions.

Shares of Kirloskar Electric Company Limited was last trading in BSE at Rs. 88.80 as compared to the previous close of Rs. 86.65. The total number of shares traded during the day was 271277 in over 5015 trades.

The stock hit an intraday high of Rs. 90.50 and intraday low of 83.20. The net turnover during the day was Rs. 23867594.00.

Source : Equity Bulls

Keywords

KirloskarElectricCompany INE134B01017 KECL NonCoreAsset Gudimangalam Udumalpet Tirupur