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,
Read more