Kirloskar Electric has entered into an agreement with Brigade Enterprises for sale of non-core asset of the company situated at Bangalore admeasuring 1.065 acres (46,391 sq.ft.).

The overall consideration for the proposed sale would be Rs 55 crore.

The expected date of completion of sale/disposal is on or before 31 March 2019 subject to receipt of relevant approvals.

The stock price hit a new 52-week high at Rs.20.55, hitting the 20% UC, with volumes surging over 55 times.