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Punj Lloyd Ltd has increased its offer for the construction business of Macmahon Holdings Ltd, report says.
According to reports, Punj Lloyd unit Sembawang Australia would offer A$38 mn ($40 million) for Macmahon's construction businesses, including its rail business.
Macmahon said that its board was considering the proposal.
Earlier Macmahon reported that it planned to exit construction and announced a deal to transfer the majority of its construction assets to Leighton.
India Infoline News Service / 08:59, Aug 25, 2014
The outlook is a flat start. The BankNifty has given a breakout but many of the large caps are remaining in a range keeping the main indices under pressure.