Kalindee Rail Nirman Engineers announced that the company is considering the merger of the group company Kalindee India projects and engineering services with itself.
Following the announcement the stock gained 5 per cent and closed at Rs 148.30 on the BSE. Recently, the company had received a high-value contract from Rail Vikas Nigam, New Delhi.
A contract valued at Rs 72.39 crore for supply and installation of track, signaling and yard-lighting works, for construction of a railway line in Orissa, was awarded to a consortium with the Kalindee Rail as a major constituent.
Merger talks put Kalindee Rail on the fast track
DALAL STREET SPIKES
Our Markets Bureau / Mumbai Dec 21, 2005, 21:37 IST
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