Bajaj Electricals Shares Surge 7% on Rs 146 Crore Morphy Richards Acquisition

als' shares rallied over 7% after the company announced the acquisition of the Morphy Richards brand and its intellectual property rights for Rs 146 crore from Glen Electric Limited, part of Ireland’s Glen Dimplex Group. The deal, approved by the board on September 23, grants Bajaj exclusive rights to the premium appliance brand in India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka, pending regulatory approvals and definitive agreements. Bajaj Electricals, a key player in home appliances and cookware, has been associated with Morphy Richards since 2002, marketing its premium kitchen and personal care products like mixers, ovens, and hair styling tools. This acquisition strengthens Bajaj’s portfolio, which includes brands like Nex and Nirlep, aligning with its strategy to cater to diverse consumer preferences. The deal, excluding taxes and duties, is expected to bolster Bajaj’s position in the growing South Asian appliances market.