The Hindu Business Line
L&T to sell entire stake in L&T Kobelco
Infrastructure major Larsen & Toubro said it will offload its entire stake in L&T Kobelco Machinery Private Ltd for around ₹43.5 crore. L&T and Kobe Steel have signed an agreement to this effect. L&T Kobelco Machinery Private Ltd (LTKM) is a joint venture between L&T and Kobe Steel, wherein L&T holds 51 per cent stake. Following the divestment of stake, LTKM will cease to be L&T’s subsidiary. TVS Motor Company has announced that its 110cc commuter motorcycle, Radeon, has crossed the one-lakh sales milestone. Within 7 months of its launch, Radeon has witnessed immense demand from the target audience across the country. The launch has strengthened the company’s presence in the commuter motorcycle segment. Mahindra & Mahindra Ltd announced on Wednesday that it became the first Indian tractor brand to roll out 3 million tractors. Mahindra is currently the world’s largest farm tractor manufacturer by volume, the company said in a statement. The company is also the first Indian tractor manufacturer to have produced over 2 lakh tractors in 2018-19, the highest-ever by an Indian tractor brand in a single financial year, it added. “The tractor industry in India has been synonymous with the Mahindra brand over the last seven decades and the 3-million tractor milestone is a testimony to the same,” said Rajesh Jejurikar, President – Farm Equipment Sector, Mahindra & Mahindra Ltd.