The Hindu Business Line : Realty play at Kirloskar Electric

Kirloskar Electric is encountering a charged up activity of late. In the past fortnight, it has notched up an average volume of 13.57 lakh shares (Wednesday's quantity is 4.87 lakh shares) on the BSE. Ruling strong throughout the day and peaking at Rs 131.20, the stock closed at Rs 126.25 (Rs 129.95). The stock was re-listed on January 12 with a bang and scaled its 52-week high at Rs 245. According to dealers, proceeds from the sale of land are likely to double the profits in the next few quarters on top of steadily improving operational profits.

The market buzz is that its excess land in the Karnataka capital has been valued at between Rs 275 crore and Rs 300 crore.

"It's an undiscovered power house. Apart from being debt-free, its potential growth in the alternator, circuit breaker and gen-set controls market and its Rs 237 crore subsidiary Kaytee Switchgear's complementary line of business (motors, alternators and generators) make the stock a real power play," an analyst commented.

Jayanta Mallick

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