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Last Updated : Sep 30, 2019 02:56 PM IST | Source: Moneycontrol.com

McNally Bharat ties up with Turkish company; shares up 4%

The company has allotted 1.12 crore equity shares to Aditya Birla Finance and 1.61 crore equity shares to IL&FS Financial Services on conversion of CCPS.

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Shares of McNally Bharat Engineering added 4 percent intraday on September 30 after the company announced a collaboration with Turkey-based Kalyon Insatt Sanayi ve Ticaret AS.

Kalyon is a contractor with experience in infrastructure works, roads, highways, onshore and offshore pipelines, buildings, airports, hospita1s, metros, etc.

Both McNally Bharat Engineering and Kalyon are interested in collaboration with each other to seek opportunities in India, pursuant to the provisions of this agreement.

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The company has allotted 1.12 crore equity shares to Aditya Birla Finance and 1.61 crore equity shares to IL&FS Financial Services on conversion of CCPS.

At 1400 hours, McNally Bharat Engineering was quoting at Rs 4.09, up Rs 0.19, or 4.87 percent.

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First Published on Sep 30, 2019 02:25 pm
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