BHEL to enter JV with Kerala govt

State-run power equipment maker BHEL today said it would form a joint venture with the Kerala government for acquiring a unit of Kerala Electrical and Allied Engineering Company Ltd.

BHEL would sign a joint venture agreement with the Government of Kerala for forming a joint venture company to acquire the Kasargod unit of Kerala Electrical and Allied Engineering Company Ltd (KEL), the company informed the National Stock Exchange (NSE).

KEL manufactures equipment for railway applications and other industrial applications.
    
Shares of BHEL closed at Rs 2,436, up 0.08 per cent on the NSE.