Birla Kennametal enters into supply agreement for 5 years with Kennametal Inc

With reference to the earlier announcement dated July 12, 2007 regarding as a consequence to Kennametal Inc, off-loading its entire shareholding of the Company to Yash Birla group, the Joint Venture Agreement between Kennametal Inc. and Birla International Pvt. Ltd., a Company of the Yash Birla group has also come to an end.

Birla Kennametal Ltd has announced that in order to ensure continuity of the existing export business, the Company has entered into an agreement with Kennametal Inc. U.S.A for supply of its products to Kennametal Inc. and its subsidiaries worldwide for a period of 5 years starting July 04, 2007.

The stock closed the day at Rs.225.15, up by Rs.10.70 or 4.99%. The stock hit an intraday high of Rs.225.15 and low of Rs.225.15. The total traded quantity was 328 compared to 2 week average of 4706.

Source : Equity Bulls

Keywords