Shriram Pistons & Rings Limited (SPRL) witnessed a 1.8% surge in its stock, trading at ₹2,093.80 on December 26, 2024. This uptick comes after the company announced the successful acquisition of TGPEL Precision Engineering Limited (TGPEL) through its wholly-owned subsidiary SPR Engenious Limited (SEL).
Key Details:
- Acquisition Value: ₹217.63 crore.
- Share Price: SEL acquired TGPEL shares at ₹54.98 per share.
- Transaction: SEL acquired 100% equity in TGPEL from its existing shareholders.
SHRIRAM PIST. & RING LTD Share Price history
| Day | Open | Close | Change % |
|---|---|---|---|
|
Tue, Dec 24 2024
|
₹2,034.00
|
₹2,056.85
|
|
|
Mon, Dec 23 2024
|
₹2,065.50
|
₹2,032.30
|
-1.09%
|
|
Fri, Dec 20 2024
|
₹2,151.90
|
₹2,054.65
|
-4.02%
|
|
Thu, Dec 19 2024
|
₹2,145.00
|
₹2,140.60
|
-0.88%
|
|
Wed, Dec 18 2024
|
₹2,148.80
|
₹2,159.60
|
|
|
Tue, Dec 17 2024
|
₹2,180.00
|
₹2,148.80
|
-0.60%
|
|
Mon, Dec 16 2024
|
₹2,185.00
|
₹2,161.70
|
-0.71%
|
|
Fri, Dec 13 2024
|
₹2,196.95
|
₹2,177.25
|
-0.51%
|
Strategic Rationale:
TGPEL, known for its precision-engineered plastic components, aligns with SPRL’s strategy to diversify its portfolio. The acquisition positions SPRL in high-precision plastic injection moulding and product assembly for automotive and industrial applications, independent of internal combustion engine components. This move reinforces SPRL’s ambition for growth in the commercial and industrial sectors through inorganic expansion.