Rolta India may sell 50% stake in Shaw Rolta JV: Srcs

IT company Rolta India is likely to sell 50% stake in the joint venture company Shaw Rolta for over Rs 150 crore, reports CNBC-TV18 quoting sources.

January 19, 2011 / 12:53 IST

IT company Rolta India is likely to sell 50% stake in the joint venture company Shaw Rolta for over Rs 150 crore, reports CNBC-TV18 quoting sources.

It is learnt that Rolta India may enter into a JV with a foreign partner for nuclear plant. However, Rolta has declined to comment on the development.

Rolta will exit the JV company after six years. In 2004 it had invested Rs 50 lakh in the JV with a US-based company Shaw Group.

Following the news, Rolta India touched an intraday high of Rs 148.70 and an intraday low of Rs 144. At 11:40 hrs the share was quoting at Rs 148.20, up Rs 4.35, or 3.02%.

first published: Jan 19, 2011 12:51 pm

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