Get Annual plan at only Rs 289. NCL and Chinese partner will hold 70 percent and 30 percent respectively of the equity of the JV company.
Moneycontrol News
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Shares of NCL Industries rose 6 percent intraday August 26 as the company signed an agreement with a Chinese firm to form a joint venture (JV).
The company has signed an agreement to establish a joint venture company with Qingdao Xinguangzheng Steel Structure Company, China for manufacturing pre-engineered steel structure in India.
NCL and Chinese partner will hold 70 percent and 30 percent, respectively, of the equity of the JV.
The estimated project cost for the venture is around Rs 35 crore and the equity investment of NCL in the JV will be in the range of Rs 7.7 crore.
At 1301 hours, NCL Industries was quoting at Rs 108.95, up Rs 3.75, or 3.56 percent on the BSE.Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.First Published on Aug 26, 2019 01:25 pm
