Monday , 29 November 2021
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KDDL surges on acquiring additional 20.69% stake in Kamla Tesio Dials

KDDL surges on acquiring additional 20.69% stake in Kamla Tesio Dials

KDDL is currently trading at Rs. 669.50, up by 29.15 points or 4.55% from its previous closing of Rs. 640.35 on the BSE.

The scrip opened at Rs. 663.00 and has touched a high and low of Rs. 679.95 and Rs. 658.70 respectively.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 715.80 on 17-Nov-2021 and a 52 week low of Rs. 163.27 on 24-Nov-2020.

Last one week high and low of the scrip stood at Rs. 709.00 and Rs. 599.05 respectively. The current market cap of the company is Rs. 815.62 crore.

The promoters holding in the company stood at 46.87%, while Institutions and Non-Institutions held 29.01% and 24.12% respectively.

KDDL has acquired 2,06,930 (20.69%) equity shares of Rs 10 each of ‘Kamla Tesio Dials’ (KTDL). Post the above acquisition, shareholding of the company has increased from 49.10 % to 69.79 % and by virtue of this acquisition, KTDL has become subsidiary of the Company. The acquisition will help the company to capture additional market share of customers in Domestic Market. Further, the Company proposes to acquire additional shareholding in KTDL upto 0.20% on or before December 31, 2021.

KDDL is a diverse company focusing on luxury Retail Watches and precision Engineering. It has established India’s largest retail chain for premium and luxury watches- Ethos and SUMMIT.