KDDL is engaged in the manufacture of watch components, high quality precision stamped components and progressive tools for a wide range of engineering applications, has acquired 2,06,930 (20.69%) equity shares of Rs 10 each of 'Kamla Tesio Dials' (KTDL).
Post the above acquisition, shareholding of the company has increased from 49.10 % to 69.79 % and by virtue of this acquisition, KTDL has become subsidiary of the Company.
The acquisition will help the company to capture additional market share of customers in Domestic Market. Further, the Company proposes to acquire additional shareholding in KTDL upto 0.20% on or before December 31, 2021.
Shares of the company gained Rs 11.60, or 1.81%, to settle at Rs 651.95. The total volume of shares traded was 4,818 at the BSE (Wednesday).