M&M seen in talks with Ramkrishna Forgings for strategic partnership.
Economic Times (New Delhi, India), August, 2005
Aug. 9--MUMBAI, India -- A rising share price has fuelled speculation about the possible induction of a strategic partner at the Jamshedpur-based Ramkrishna Forgings. It is understood that utility and farm equipment major Mahindra and Mahindra (M&M) has initiated talks with the auto-component company.
M&M recently acquired Rajkot-based Sar Transmission, and the forging unit of Amforge Industries in Chakan, which will be merged with Mahindra Automotive Steels.
Over the past month, Ramkrishna Forgings' share price has risen by 37 percent from Rs 67 to Rs 91.65 on Monday (intra-day it went up to Rs 95). When contacted, an M&M official said, "We do not comment on speculative reports." A Ramkrishna Forgings official told ET that "as of now, nothing is...
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