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Triveni Engineering and Industries Ltd News

Buy Redington, Triveni Engineering for up to 15% upside: HDFC Securities

On the broader market outlook, Vinay Rajani technical & derivative analyst of HDFC Securities says the Nifty needs to break from the 22,204-22,529 range for fresh direction.

Buy Redington, Triveni Engineering for up to 15% upside: HDFC Securities
Updated On : 03 Apr 2024 | 6:39 AM IST

Triveni Engineering acquires 25.43% stake in Sir Shadi Lal Enterprises

Sugar company Triveni Engineering & Industries Ltd has acquired a 25.43 per cent stake in Sir Shadi Lal Enterprises Ltd (SSEL) for Rs 35 crore and launched an open offer to shareholders for acquiring an additional 26 per cent stake. Triveni Engineering is one of the leading integrated sugar producers in the country. It is also into engineered-to-order high speed gears & gearboxes and water and waste water management business. In a statement, the company said it has acquired a 25.43 per cent stake in SSEL. Pursuant to a share purchase agreement executed with Vivek Viswanathan and Radhika Viswanathan Hoon on January 30, 2024, the company on Monday acquired 25.43 per cent equity stake in SSEL for an aggregate consideration of Rs 35 crore, i.e. at a price of Rs 262.15 per equity share of SSEL. To acquire a majority stake in SSEL, the company had launched an open offer to the shareholders of SSEL to acquire up to 26 per cent of the outstanding voting share capital at Rs 262.15 per .

Triveni Engineering acquires 25.43% stake in Sir Shadi Lal Enterprises
Updated On : 11 Mar 2024 | 10:03 PM IST

TEIL Q3 results: Profit falls 7% to Rs 137 cr; will foray into IMFL biz

Triveni Engineering & Industries Ltd, mainly engaged in the sugar business, has posted a 7 per cent decline in its consolidated net profit to Rs 137.40 crore for the December 2023 quarter and announced its foray into Indian Made Foreign Liquor (IMFL) manufacturing. Its net profit stood at Rs 147.28 crore in the year-ago period. The total income fell to Rs 1,575.55 crore in the October-December period from Rs 1,695.98 crore in the corresponding period of the previous year, a regulatory filing said on Monday. Triveni Engineering is one of the leading integrated sugar manufacturers and engineered-to-order turbo gearbox manufacturers in the country. It is also into water and waste-water management business. The company's board approved "venturing into the new business of manufacturing, marketing and selling own brands in the premium segment of Indian Made Foreign Liquor (IMFL) as a forward integration of the distillery operations". The company would set up a bottling plant in ...

TEIL Q3 results: Profit falls 7% to Rs 137 cr; will foray into IMFL biz
Updated On : 31 Jan 2024 | 4:43 PM IST