India's Kirloskar Pneumatic rises on deal with Systems & Components India

Kirloskar Pneumatic

24/06/2024 07:23

** Shares of Kirloskar Pneumatic  KIRP.NS  up as much as 2.5% to
1,369.85 rupees
    ** The engineering goods maker said on Friday that it has
signed a pact to acquire over 51% stake in Systems & Components
India
    ** The deal is expected to be finalised within the next
three months, subject to due diligence and closing adjustments,
KIRP said
    ** KIRP on track for a third straight session of gains, if
current trend holds
    ** Including session's gain, stock is up 122.7% YTD,
outperforming peers Ingersoll-Rand (India)  INGR.NS  and Elgi
Equipments  ELGE.NS , which are up 52.7% and 42.2%, respectively

 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))