The buzz that Autoline Industries is to sell stake to the Essar Ruia Group are false, said the joint managing director of Autoline Industries, M Radhakrishnan. In an interview on CNBC-TV18, he said that they have spoken to both the exchanges, BSE and NSE and have clarified the situation that they are not looking at a stake sale with any group.
The company bagged a mega project from the Maharashtra government. The incentives they will receive under the mega project are expected to yield some tax waivers.
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