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Last Updated : Aug 26, 2019 01:25 PM IST | Source: Moneycontrol.com

NCL Industries rises 6% on forming JV with Chinese firm

NCL and Chinese partner will hold 70 percent and 30 percent respectively of the equity of the JV company.

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Shares of NCL Industries rose 6 percent intraday August 26 as the company signed an agreement with a Chinese firm to form a joint venture (JV).

The company has signed an agreement to establish a joint venture company with Qingdao Xinguangzheng Steel Structure Company, China for manufacturing pre-engineered steel structure in India.

NCL and Chinese partner will hold 70 percent and 30 percent, respectively, of the equity of the JV.

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The estimated project cost for the venture is around Rs 35 crore and the equity investment of NCL in the JV will be in the range of Rs 7.7 crore.

At 1301 hours, NCL Industries was quoting at Rs 108.95, up Rs 3.75, or 3.56 percent on the BSE.
First Published on Aug 26, 2019 01:25 pm
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