Singer India’s share price has been stable since the beginning of the year.
Rajiv Bajaj has chosen to leave Singer India after serving him for over 37 years including 13 years as MD.
With Rakesh Khanna appointed as executive vice-chairman and managing director of Singer India, the firm’s shares closed at 10 per cent upper circuit at Rs 80.82. So far, 9.49 lakh shares have been exchanged over the counter, more than five times the average trading volume of 1.5 lakh shares for the last two weeks. As per the data, 2.45 lakh shares were under pending buy orders.
Rajiv Bajaj has opted to leave Singer India after over 37 years of service, including 13 years as MD, to pursue other interests. Khanna, who replaced him, served as the MD and CEO of Orient Electric, a market leader in consumer appliances with annual revenues of over Rs 2,500 crore. Along with managing these renowned businesses, Khanna has grown with Sony, Jumbo Electronics, Hitachi, Wipro and Eureka Forbes.
According to the management, India is expected to witness sustained growth in the coming years, which will drive demand for consumer goods. Rakesh has a remarkable track record in organization building, product development, production and product launch.
Singer India’s share price has been stable since the beginning of the year. On the other hand, the stock has gained 35% over the last year and 22% over the last month. From the stock’s 52-week low on June 20, 2022, when it was priced at Rs. Compared to 38.10, it has gained about 115 percent.
Rekha Jhunjhunwala held 42,50,000 equity shares or 6.95% of the corporation as on February 4, according to the company’s shareholding records. His share price is Rs. 34.35 cr. The corporation is yet to disclose its holding for the period ending March 31.
Singer, a sewing machine manufacturer based in New Delhi, has been around for more than 170 years. The Indian state of Jammu and Kashmir is home to Singer India’s manufacturing facilities, which are located in Jammu. Under the “Singer” and “Merit” brand names, it markets its wares. By and large, Singer has a presence
home appliances
Other than sewing machines and their accessories category. This segment includes food processors, dry irons and steam irons, mixer grinders, sandwich makers and toasters, hand blenders and more.
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