Suprajit Engineering, a manufacturer of two wheeler control cable, said Monday the company has executed a business transfer agreement with Pricol, Coimbatore. As part of agreement, Suprajit will acquire Pricol's speedo cable business on a slump sale basis. The business has annual sales of around Rs 100 million with major OEM's and aftermarket customers.

The company is in the process of transferring the plant and machinery from Pricol and will relocate the same to one of its facilities at Bangalore.

Shares of the company gained Rs 3, or 2.38%, to trade at Rs 129.00. The total volume of shares traded was 536 at the BSE (11.26 a.m., Monday).