Shares of Bajaj Electricals surged 13.3% on Wednesday after it announced the acquisition of Morphy Richards. It was the biggest intra-day gain since May 12 this year. On Tuesday, Bajaj Electrical's board approved a proposal to acquire the 'Morphy Richards' brand and related intellectual property rights in India, Nepal, Bhutan, Bangladesh, the Maldives, and Sri Lanka from Glen Electric.