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 Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.