INDIA BUSINESS WORLD - AUGUST (16th - 31st) 2007
The Month that was ...
L & T CAPITAL INVESTS RS 100 CR IN RANGSONS ELECTRONICS
Engineering major Larsen and Toubro (L&T) has invested about Rs 100 crore through its group entity-L&T Capital Company-for a stake in Mysore-based electronic manufacturing services (EMS) provider Rangsons Electronics. "Looking at the present market situation and its growth opportunities, we believe this investment will bear fruit for both the partners," L&T president (operations) and a member of the board R N Mukhija said in a statement to Bombay Stock Exchange (BSE). Rangsons Electronics, a part of N R Group, has four facilities in Bangalore and Mysore and an international procurement office in China, through which it caters to the 'High Mix High Tech' product spectrum of leading Indian and global original equipment manufacturers (OEMs). Shares of the company closed 3.75% up at Rs 2,535.55 at BSE.
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