Thermax has bagged an order worth Rs 37 crore for supply of 4 waste heat boilers alongwith accessories for a leading company in the steel sector in India.
Indian Aluminium Company (Indal) has increased its stake in Utkal Alumina International from 20 per cent to 55 per cent, thereby making Utkal a subsidiary of Indal.
The transaction was completed after securing all the regulatory approvals applicable to the seller and purchase.
Earlier the company had informed that the board has approved to the company acquiring upto a maximum of an additional 35 per cent interest in Utkal subject to necessary approvals.