Voltas shares rose over 4% in early trade, touching the monthly high of Rs187.70, after the company bought additional 11% stake in Lalbuksh Voltas Engineering Services from its joint venture partner Lalbuksh Contracting and Trading Establishment for Rs6.65 crore.
Following the stake hike, Lalbuksh Voltas Engineering Services has become a subsidiary of Voltas effective March 31, 2011. Voltas now holds 60% stake in Lalbuksh Voltas Engineering Services from 49% earlier. Lalbuksh Voltas Engineering Services is engaged in the business of water and oil drilling, water management and landscaping in Oman.
Following the stake hike, Lalbuksh Voltas Engineering Services has become a subsidiary of Voltas effective March 31, 2011. Voltas now holds 60% stake in Lalbuksh Voltas Engineering Services from 49% earlier. Lalbuksh Voltas Engineering Services is engaged in the business of water and oil drilling, water management and landscaping in Oman.
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