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Kirloskar Electric terminates JV agreement with Electrodrive Powertrain Solutions; Stock dips 3%

The parties mutually agreed to terminate the JV Agreement as per the termination clause of the agreement.

August 23, 2022 10:03 IST | India Infoline News Service
Kirloskar Electric Company Ltd stocks in focus today as the company announced the termination of joint venture agreement.

As per the filing, the company has announced the termination of Joint Venture Agreement dated October 24, 2019 between Kirloskar Electric Company Limited and Electrodrive Powertrain Solutions Private Limited.

The parties mutually agreed to terminate the JV Agreement as per the termination clause of the agreement, the company said in a regulatory filing.

At around 10:07 AM, Kirloskar Electric Company Ltd is currently trading at Rs40.90 per share down by Rs1.25 or 2.97% from its previous closing of Rs42.15 per share on the BSE.

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