Suprajit Engineering, a manufacturer of two wheeler control cable registered a sharp rise in share prices on Monday after 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.
Shares of the company are trading at Rs 129.00, up Rs 3, or 2.38% at the Bombay Stock Exchange (BSE) on Monday at 11:42 a.m.
The scrip has touched an intra-day high of Rs 131.80 and low of Rs 126.10. The total volume of shares traded at the BSE is 536.