NCL Industries Ltd. has signed an agreement to establish a Joint Venture Company with Qingdao Xinguangzheng Steel Structure Company Ltd. China for manufacture of Pre-engineered Steel Structures in India. The Board has approved the proposal to incorporate a Joint Venture Company pursuant to the Agreement.
In terms of the agreement, NCL and the Chinese Partner will hold 70% and 30% respectively of the equity of the Joint Venture Company.
The estimated project cost for the venture is around Rs.35 Crores and the equity investment of NCL in the Joint Venture will be in the range of Rs. 7.70 crores.
Shares of NCL INDUSTRIES LTD. was last trading in BSE at Rs.104.25 as compared to the previous close of Rs. 104.75. The total number of shares traded during the day was 4150 in over 157 trades.
The stock hit an intraday high of Rs. 110 and intraday low of 102.1. The net turnover during the day was Rs. 440744.