The Board of Directors of the company considered the proposal to acquire majority stake in the equity of Guts Electromech Ltd, Hyderabad, and accorded its in-principle approval to make the investment, subject to completion of due diligence and approvals from requisite authorities, the company said in a BSE filing.
However, the company did not disclose the investment figures.
Guts Electromech is engaged in the manufacture and marketing of various kinds of domestic switch gears and power transformers.
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