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Kirloskar Oil Engines Limited (KOEL) has announced that it would acquire the balance stake in Ahmedabad-based La-Gajjar Machineries Private Limited (LGM). By completing the acquisition, LGM will become a 100 per cent subsidiary of KOEL.
KOEL had acquired 76 per cent stake in LGM in 2017 with an agreement that the balance holding will be acquired by KOEL over a 5-year period.
KOEL is a leading manufacturer of diesel engines, agricultural equipment, and generator sets with a sizable presence in international markets.
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Day Trading Guide gives you the key intraday supports and resistances to watch out for on the Nifty Futures and other widely traded stocks such as Reliance Industries, Infosys, HDFC Bank, TCS, SBI. Based on the trend, it also gives intraday trade recommendations with specific entry as well as stop-loss levels. The mentioned resistances and supports will be the exit levels. Do note that the recommendations are based on Technical Analysis and there is a risk of loss in trading.It specializes in manufacturing air-cooled and liquid-cooled engines for diesel generator sets across a wide range of power outputs (2kVA to 1500 KVA). It has a significant presence in diesel and electric pump sets, power tillers, specialised fishing engines markets, among others.
LGM is a leading submersible and mono block pump manufacturer in India with established brands “Varuna” and “Raindrop” and a pan-India distribution setup.
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