Financial Daily from THE HINDU group of publications
Saturday, Jan 07, 2006
Financial Daily from THE HINDU group of publications Saturday, Jan 07, 2006 |
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Corporate
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Mergers & Acquisitions Nelco now subsidiary of Tata Power Our Bureau
Mumbai , Jan. 6 NELCO Ltd has become a subsidiary of Tata Power Company, following the acquisition of 50,000 equity shares of Nelco by Af-Taab Investment Company, a wholly-owned subsidiary of Tata Power. This is according to a notice sent to the stock exchanges. As on September 30, 2005, Af-Taab Investment Company and Tata Power together already owned 49.90 per cent equity stake in Nelco. Nelco manufactures supervisory control and data-acquisition systems for energy management, load dispatch, and distribution and sub-station automation. It is also into V-SAT based communication networks for the Tata group. The company specialises in real-time software activities, and caters to diverse market segments, such as the steel and metal industry, energy management, railways, and the oil and gas sectors. It has recently made forays into the defence sector, according to the company's Web site.
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