Power equipment manufacturer Bharat Heavy Electricals Ltd (BHEL) said it will sign a joint venture agreement with the government of Kerala to acquire the Kasargod unit of Kerala Electricals Ltd. No financial details of the deal were provided.
Kerala Electricals, a public sector undertaking, is fully owned by the government of Kerala. It manufactures alternators for railway applications and other industrial applications.
On Wednesday, BHEL shares ended flat at Rs2,435 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.1% up at 18,666 points.
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