Walchandnagar Industries in talks for JV with Russian firms

Walchandnagar Industries is exploring opportunities to form joint venture with Russian companies Atomenergomash and Atomstroyexport in the nuclear power space. The JVs will aim to explore and evaluate various business opportunities to manufacture and supply components for nuclear power projects.

"A memorandum of understanding to this effect has already been signed and the details of the joint venture agreement are presently being worked out," the company said in a notice to the stock exchanges.

Both Atomenergomash and Atomstroyexport are arms of Russian state nuclear corporation Rosatom.

Walchandnagar Industries shares surged 3.7% to Rs 131.60 on NSE post the announcement.

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