Bajaj Electricals surges 12 % on board nod for business restructuring plan
Published On: Friday, December 10, 2021 | By: Team KnowMyStock
Shares of Bajaj Electricals surged 11 percent to Rs 1,159.95 on the BSE in Friday’s intra-day trade after the household appliances company announced that its board approved business restructuring. The Board has informed the exchanges that it would explore a full range of options and alternatives, including demerger, subsidiarization, and strategic partnerships. The board has also approved the formation of a wholly-owned subsidiary of the company, which could provide a ready vehicle to enable the above restructuring it added. Considering the varied nature and potential opportunities of each of the business segments and the need for a focused approach to unlock these opportunities, the Board of Directors of the Company has decided that the Company should undertake a comprehensive review of the existing corporate structure, the company said in a press release.The board of directors has authorized the BEL management to evaluate and recommend such options and alternatives,
and subject to such detailed evaluation, consider housing the power transmission and power distribution business verticals as a standalone / independent legal entity.
Bajaj Electricals is currently engaged in the Consumer Product segment which includes appliances, fans, and consumer lighting products, and an Engineering Procurement and Construction segment that includes power transmission and power distribution and illumination projects.
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