Bajaj Electricals Share : Amidst the ongoing turmoil in the domestic stock market, there was a tremendous rise in the shares of Bajaj Electricals Ltd on Tuesday. The company’s stock jumped by about 10 percent, which intensified its discussion in the market. A big business deal is believed to be the reason behind this rise.
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Actually, Bajaj Electricals has acquired the brand and intellectual property rights of Morphy Richards for approximately Rs 141 crore. The company informed about this agreement on March 17, after which the confidence of investors seemed to be strengthened. This deal is also considered special because both the companies were working together in many Asian countries for the last two decades. Now after this acquisition, Bajaj Electricals has got full rights of this brand in some select Asian markets including India.
Morphy Richards is an old and trusted brand, started in 1936 and is known for premium home appliances. However, despite today’s gains, the company’s long-term performance has not been very strong. There has been a decline in its shares in the last one year where a decline of 32 percent has been seen and the figures of many years are also not very encouraging. Nevertheless, after this new deal, investors are hopeful that the company’s situation may improve in the coming times.
Shares of Bajaj Electricals Ltd have fallen by 60 percent in two years and by 63 percent in three years. The price of the company’s shares has increased by 59 percent in the last 5 years. Let us tell you, even in 10 years the company has given a return of only 112 percent. Which is less than the return of 205 percent of the Sensex index.
Disclaimer: This news is for information purposes only. Investing in the stock market is subject to risk, so before making any investment, take expert advice.
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