Timken India Ltd., the country’s third-largest bearings maker by sales, will take over ABC Bearings Ltd. in a merger that values its smaller peer at a 77 percent premium to its current market price.
Net Worth
Financial Year 2016-17 End
- ABC Bearings: Rs 139 crore
- Timken India: Rs 618 crore
Revenue
Financial Year 2016-17
- ABC Bearings: Rs 190 crore
- Timken India: Rs 1,127 crore
Shares of ABC Bearings hit the 20 percent upper limit for the second straight day. The stock has gained 90 percent so far this year. Timken India rose as much as 5.4 percent on Wednesday.
ADVERTISEMENT
RECOMMENDED FOR YOU
POPULAR
1
July Auto Sales Live: M&M Total Sales Up 26%; TVS Motor Sales Surge 29%
2
Q1 Results Live: Adani Power Profit Surges; ITC, Tata Power In Focus
3
Stock Market LIVE: Sensex Drops Over 300 Points; Nifty At Day's Low As Infosys, Sun Pharma Shares Weigh
4
Adani Power Approves Stock Split Of One Share Into Five
5