Shares of V-Guard Industries Ltd. gained the most in over nine months on buying the remaining 26% stake in voltage stabiliser maker, Guts Electromech Ltd. for Rs 6.2 crore.
Following the acquisition, Hyderabad-based Guts Electromech will become a wholly owned subsidiary of V-Guard Industries, effective from Thursday. The company is engaged in the business of manufacturing and supplying miniature circuit breakers and residual current circuit breakers.
The company reported a net profit of Rs 2.87 crore on revenue of Rs 59.43 crore in the fiscal ended March 30, 2022.
Source: Exchange filing, Bloomberg