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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.

SI Reporter  |  Mumbai 

Kirloskar Oil Engines soars 18% on talks of Cummins Group eyes stake

soared 18% to Rs 450, also its 52-week high on the BSE in early morning trade, on reports that the is eying controlling stakes in auto parts & equipment Company. The Cummins Group, one of the world’s largest manufacturers of engines and power generation products, is in talks to acquire a controlling stake in in a deal valued at over $500 million through one of its Indian subsidiaries, Livemint reported quoting two people aware of talks between the companies. At 09:28 AM; was trading 12% higher at Rs 426 on the BSE.

A combined 142,976 shares changed hands on the counter on the BSE and NSE so far. Cummins India was up 3% at Rs 900, after hitting high of Rs 906 in intra-day trade. On comparison the S&P BSE Sensex was trading marginally higher by 0.07% at 33,962 points.

First Published: Tue, December 26 2017. 09:37 IST
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