Page 2 - Kirloskar Oil Engines

M&M to acquire Swaraj Engines' 17.41% stake from Kirloskar Industries

Mahindra & Mahindra(M&M) Ltd on Tuesday said it will acquire an additional 17.41 per cent stake in Swaraj Engines Ltd from Kirloskar Industries Ltd (KIL) for Rs 296 crore. The acquisition will result in increasing the company's stake in Swaraj Engines Ltd (SEL) to 52.13 per cent from 34.72 per cent, M&M said in a regulatory filing. The company proposes to acquire 21,14,349 equity shares constituting 17.41 per cent of the paid up equity share capital of SEL from KIL at a price of Rs 1,400 per share, it said. Consequently, SEL, which is currently an associate of the company, would become a subsidiary of M&M, the filing said. Based in Mohali, Punjab, SEL is in the business of manufacturing of diesel engines and its components. It was promoted in 1985 by erstwhile Punjab Tractors Ltd, which has since merged with M&M, and the then Kirloskar Oil Engines Ltd (now KIL). It had a total revenue from operations of Rs 1,138.15 crore for the year ended March 31, 2022, it said.

Stocks to Watch: Cipla, NTPC, Adani group, SBI Cards, Hind Zinc, Nxtdigital

Stocks to Watch: ICICI Securities, Axis Capital and Citigroup Global Markets are among the 5 investment bankers selected to manage the sale of the government's 29.53% residual stake in Hindustan Zinc

Kirloskar family feud: SC to hear KMD CMD's plea on March 15

The Supreme Court will hear on March 15 a plea by Kirloskar Brothers Ltd (KBL) CMD Sanjay Kirloskar challenging a Bombay High Court order directing arbitration in a family feud related to assets.

Kirloskar Oil Engines to invest Rs 250 crore more in NBFC business

They also announced plans to monetise its 50-acre land bank in its base of Pune for its realty company Avante Spaces

Kirloskar group launches new brand logo, 'Limitless' business vision

The new 'Limitless' vision will span over eight business areas led by Atul and Rahul, and will lay the foundation for aggressive plans in the B2C domain

Kirloskar Oil Engines reports Rs 6.73 crore net loss for June quarter

Consolidated revenue from operations stood at Rs 422.33 crore. It was Rs 901.03 crore in the year-ago quarter

Kirloskar Oil Engines hits 52-week high; stock soars 18%

The stock soared 18% to Rs 450, also its 52-week high on the BSE in early morning trade.

Kirloskar partners with Gulf Petrochem to launch K-Oil in Middle East, Africa

The engine oil will be launched following an extensive six-month engine trial and product evaluation