Who is buying Kirloskar Pneumatic?

Are friendly circles buying shares of Kirloskar Pneumatic amid the rift within the Kirloskar family, which controls the Kirloskar Group? That’s the speculation doing the rounds in the market with Kirloskar Pneumatic rallying 35 per cent in the last one month.

Promoters have raised stake in Kirloskar Oil Engine from 72.80 per cent to 73.11 per cent in the December quarter. Rahul Kirloskar and Atul Kirloskar have moved National Company Law Tribunal (NCLT) to oust their brother Sanjay Kirloskar as chairman and managing director of Kirloskar Brothers alleging mismanagement.

While Sanjay is running Kirloskar Brothers, Atul and Rahul are in charge of Kirloskar Oil Engines and Kirloskar Pneumatic respectively.