India's Kirloskar Brothers jumps on 50 mln-rupee stake purchase

Kirloskar Brothers

20/09/2024 09:25

** Shares of India's Kirloskar Brothers  KRBR.NS  jump 4% to
1,688 rupees 
        ** Industrial machinery maker and its unit 
    entered
     into agreement to buy 26% stake in Sunsure Solarpark
Nineteen Pvt Ltd for no more than 50 mln rupees (around
$599,000)
  
        ** Investment intended for solar power captive
consumption, co says in a release
  
        ** KRBR set to log first weekly gains in five
  
    ** Trading vols ~2x of 30-day avg of 97,461 shares
    ** YTD stock has added over 90%

($1 = 83.5250 Indian rupees)

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))