Shares of Bajaj Electricals Ltd surged 8.27% to ₹624.85 in morning trade on Tuesday, September 24, after the company announced a strategic acquisition in the premium home appliances space.
Acquisition of Morphy Richards brand rights
The company said it will acquire the ‘Morphy Richards’ brand and intellectual property rights in India and neighbouring regions from Glen Electric Ltd for a consideration of ₹146 crore.
Bajaj Electricals has been manufacturing and marketing Morphy Richards products in India since April 2002, positioning the brand as a key player in the premium home appliances category.
Strategic rationale
This acquisition will give Bajaj Electricals complete ownership of the brand in India, further strengthening its presence in the home appliances and consumer electronics portfolio. The move is expected to enhance the company’s ability to innovate, expand, and scale within the high-growth premium appliances segment.
Investors cheered the announcement, sending the stock sharply higher in early trading.
