Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessStocks

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.

September 30, 2019 / 02:56 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

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.

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.

Moneycontrol News
first published: Sep 30, 2019 02:25 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347