KDDL surges 3% after acquisition of 20.69% stake in Kamla Tesio Dials

The shareholding of the company has increased from 49.10 % to 69.79 % and by virtue of this acquisition, KTDL has become a subsidiary of the company.

Nov 24, 2021 03:11 IST India Infoline News Service

KDDL Limited
KDDL Limited has acquired 2,06,930 (20.69%) equity shares of Rs10 each of ‘Kamla Tesio Dials’ (KTDL). The shareholding of the company has increased from 49.10 % to 69.79 % and by virtue of this acquisition, KTDL has become a subsidiary of the company.

The acquisition will help the company to capture additional market share of customers in the Domestic Market. Further, the company proposes to acquire an additional shareholding in KTDL up to 0.20% on or before December 31, 2021.

The company stock was bullish on Wednesday and towards last half hour of trade KDDL Ltd was trading at Rs659.70 per piece up by Rs19.35 or 3.02% from its previous closing of Rs640.35 per piece on the BSE.

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