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News Update as at 18.00 hrs (IST)


Corporate
Magma Shrachi forms tractor-financing JV

MUMBAI: Magma Shrachi Finance Ltd said on Friday that it had formed a 74:26 joint venture (JV) with International Tractors Ltd for financing tractors made by the latter under the brand, Sonalika.

The new company will be known as Magma ITL Finance Ltd., it said in a statement. Magma shares were trading down 0.65 per cent at Rs 220 on the BSE.

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