KOEL acquires 76% stake in La-Gajjar Machineries

Kirloskar Oil Engines Limited (KOEL) has acquired 76% of equity shares of La-Gajjar Machineries Private Limited as per terms of Share Purchase Agreement dated June 21, 2017. This was stated by the company in BSE filing on Wednesday.
 
Effective August 1, 2017, La-Gajjar Machineries Private Limited will now be a subsidiary of the company.
 
Kirloskar Oil Engines was trading at Rs 401.15, down by Rs 2.05 or 0.51% as at 1301 hours on Wednesday, on the BSE. The stock hit its intraday high and low of Rs 402.90 and Rs 393.30 respectively.
 
The stock attracted traded volume of 1,556 shares and traded value of Rs 6.24 lakh on the NSE.