Kirloskar Electric executes sale deed of its non-core asset in Hyderabad for Rs3 crore; Stock jumps ~3%

30 Mar 2022 , 02:16 PM

Kirloskar Electric Limited has executed a Sale Deed effecting the sale of the Company’s non-core asset situated at Punjgutta, Hyderabad for a consideration of Rs3 crore.

The buyer, Shree Enterprises represented by its proprietor Y. Nanda Kumar Yadav, is a third-party buyer who does not belong to the Promoter/ Promoter Group / Group companies and the transaction does not fall under the ambit of Related Party Transactions, company said in a filing on Tuesday.

At around 2.18 pm, Kirloskar Electric Company Ltd was trading at Rs25.20 per share up by Rs0.7 or 2.86% from its previous closing of Rs24.50 per share on the BSE.