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What is the story about?
Shares of Bajaj Electricals Ltd (BEL) surged more than 13% on Wednesday (Sept 24) after the company announced it will acquire the Morphy Richards brand and related intellectual property rights from Ireland-based Glen Electric, part of the Glen Dimplex Group, for ₹146 crore.
Following the announcement, shares of Bajaj Electricals witnessed strong buying interest. The stock opened higher at ₹603.05 on the BSE against the previous close of ₹576.95 and surged 13.11% to an intraday high of ₹652.75
In terms of broader trends, Bajaj Electricals is still trading below its 52-week high of ₹995, but well above its 52-week low of ₹487.60, highlighting the recent recovery in investor sentiment.
With the latest surge, Bajaj Electricals’ full market capitalisation stood at ₹7,400.99 crore.
Investors cheered the company’s plan to acquire the Morphy Richards brand and related intellectual property rights.
According to a stock exchange filing, the proposed deal will give Bajaj Electricals full ownership of the Morphy Richards brand in India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka, strengthening its presence in the premium appliances market.
BEL has been the exclusive licensee of Morphy Richards in India for over two decades.
The proposal was cleared at BEL’s Board meeting held on September 23. The company said the acquisition is subject to definitive agreements and regulatory approvals. Once completed, the move will allow Bajaj Electricals to directly control the brand’s strategy, positioning, and expansion in South Asia.
The Morphy Richards brand, with a legacy of nearly 90 years, has a presence in 26 countries and offers a diverse portfolio that includes kitchen appliances, breakfast solutions, garment care, and floor care products.
For Bajaj Electricals, a part of the Bajaj Group, the acquisition adds to its consumer products portfolio, which already features appliances, fans, lighting, and non-stick cookware under Nirlep Appliances, in addition to its EPC (engineering, procurement, and construction) operations.
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Following the announcement, shares of Bajaj Electricals witnessed strong buying interest. The stock opened higher at ₹603.05 on the BSE against the previous close of ₹576.95 and surged 13.11% to an intraday high of ₹652.75
In terms of broader trends, Bajaj Electricals is still trading below its 52-week high of ₹995, but well above its 52-week low of ₹487.60, highlighting the recent recovery in investor sentiment.
With the latest surge, Bajaj Electricals’ full market capitalisation stood at ₹7,400.99 crore.
Investors cheered the company’s plan to acquire the Morphy Richards brand and related intellectual property rights.
According to a stock exchange filing, the proposed deal will give Bajaj Electricals full ownership of the Morphy Richards brand in India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka, strengthening its presence in the premium appliances market.
BEL has been the exclusive licensee of Morphy Richards in India for over two decades.
The proposal was cleared at BEL’s Board meeting held on September 23. The company said the acquisition is subject to definitive agreements and regulatory approvals. Once completed, the move will allow Bajaj Electricals to directly control the brand’s strategy, positioning, and expansion in South Asia.
The Morphy Richards brand, with a legacy of nearly 90 years, has a presence in 26 countries and offers a diverse portfolio that includes kitchen appliances, breakfast solutions, garment care, and floor care products.
For Bajaj Electricals, a part of the Bajaj Group, the acquisition adds to its consumer products portfolio, which already features appliances, fans, lighting, and non-stick cookware under Nirlep Appliances, in addition to its EPC (engineering, procurement, and construction) operations.
Catch live market updates with CNBC-TV18.com's blog
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