Craftsman Auto up over 12.5%

Craftsman Auto is among the top three gainers on the BSE; from its close of Rs.4835, it opened marginally higher at Rs.4842 and from there surged to Rs.5441.40, up more than 12.5%.

The market is happy that it has signed an MoU with Sunbeam Lightweighting Solutions and Kedaara Capital Fund II LLP. The company signed the MoU to acquire the whole or part of the business of Sunbeam, excluding certain specific assets situated in Gurugram. The acquisition could be done in one or more tranches.

The company makes automobile parts like gears, heavy parts, sheet metal equipment, special purpose machines, engineered components and assembly.