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TEEC, KPTL successfully complete transfer of 49% stake (23% by KPTL, 26% by TEEC) in KMTL to Apraava Energy Pvt Ltd

News: Techno Electric (TEEC) and Kalpataru Power (KPTL), a joint venture partner in Kohima-Mariani Transmission Asset (KMTL), have successfully completed transfer of 49% stake (26% by TEEC, 23% by KPTL) in KMTL to Apraava Energy Pvt Ltd (formally known as CLP India Pvt Ltd) .

Views: With the continuing momentum in divestment of long-term assets and non-core businesses, TEEC remains focused on executing its strategy of pursuing growth in targeted core EPC businesses. Net debt free balance sheet, double-digit return ratio and strong cash balance of ~| 795 crore provide tremendous balance sheet strength, which will further be enhanced.

Impact: Positive