Kalpataru Power's Brazil-based arm completes acquisition of 51% stake in Fasttel; Stock zooms 6%

Kalpataru Power Do Brasil Participacoes has completed the acquisition of 51% stake in Fasttel Engenharia, along with management control.

Apr 08, 2021 02:04 IST India Infoline News Service

Kalpataru Power Transmission
Kalpataru Power on Thursday announced that its Brazil-based wholly-owned subsidiary, Kalpataru Power Do Brasil Participacoes has completed the acquisition of 51% stake in Fasttel Engenharia, along with management control.

In February this year, the company had announced the acquisition of Fasttel, a Brazilian EPC Company (“Fasttel”), headquartered in
City of Curitiba, State of Paraná, Brazil, in the first quarter of FY 2021-22.

At around 2.40 pm, Kalpataru Power trades at Rs397 per piece up by 5.98% on Sensex. 

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