Triveni Turbines DMCC to acquire 70% in TSE Engineering Pty Ltd

M/s Triveni Turbines DMCC, a wholly owned subsidiary of Triveni Turbine Limited has signed an agreement for acquisition of 70% equity shares of TSE Engineering Pty. Ltd. (TSE). TSE is registered under the laws of South Africa and is engaged in high precision engineering repairs and servicing of machinery in sugar and other industrial plants in South African Development Community ("SADC") region. With the said acquisition of these shares, TSE will become a step down subsidiary of Triveni Turbine Limited.

The acquisition of TSE will enable the growth of after-market business for rotating equipment in the South African Development Community (SADC) region.

Shares of Triveni Turbine Limited was last trading in BSE at Rs. 198.95 as compared to the previous close of Rs. 192.60. The total number of shares traded during the day was 68071 in over 1461 trades.

The stock hit an intraday high of Rs. 201.95 and intraday low of 193.25. The net turnover during the day was Rs. 13458681.00.

Source : Equity Bulls

Keywords

TriveniTurbine INE152M01016 TriveniTurbinesDMCC StakeAcquistion TSEEngineering