Mukand Ltd

The board of Mukand has approved the transfer of its industrial machinery business, including EOT cranes and materials handling equipment, to its wholly owned subsidiary Mukand Heavy Engineering.

Jamnalal Sons Pvt Ltd acquired a 30% stake in Mukand Sumi Special Steel from Mukand for ₹714 crore, as part of Mukand's plan to reduce debt.

The Competition Commission of India approved Sumitomo Corporation's acquisition of a 49% stake in Mukand Alloy Steels Pvt Ltd, a joint venture with Mukand Ltd to manufacture hot rolled wire rods and bars.

Sumitomo Corporation and Mukand Limited reached a basic agreement for Sumitomo to acquire 49% of Mukand Alloy Steels Private Limited (MASPL), a subsidiary that manufactures specialty rolled steel, and participate in its operation.

Mukand and Sumitomo Corporation agreed to form a joint venture through Mukand Alloy Steels (MASPL) to engage in the rolling and finishing of alloy steel. A share subscription and shareholders agreement was signed on 30 March 2017.

Mukand Ltd's board approved the slump sale of its alloy steel rolling and finishing business to Mukand Vijayanagar Steel for ₹227 crore. The business will then be merged with Mukand Alloy Steels Pvt Ltd.