Kirloskar Electric up today too!

Kirloskar Electric had done well on Tuesday and today too, it has opened in the green. It is up over 3.5% at Rs.20.55, closer to its intra day high at Rs.20.70. Volumes are small, with some 726 shares changing hands in the morning. Its market cap stands at Rs.103 crore.

The stock is up after it announced on Tuesday of having exported a dispatch of generator duty transformer of 24/30 MVA for a hydo-electric project in Song-Giang in Vietnam. Special design considerations have been made to meet the stringent losses and impedance combination required between different pairs of windings. CTC conductors with Multi start tapping arrangement have been used for better control.

This news apart, the company announced on 23rd Dec, Monday that as a part of its continued efforts to improve the operating efficiency and to optimize the productivity of the resources, it has extended the layoff at its Mysore plant’s electronic unit for 53 workmen. This started on 25th Nov and was to end on 24th Dec but it has now been extended by a month more to 24th Jan’14. The turnover of this unit in the total turnover of the company is less than 1.5%.