Isgec Heavy Engg, Italy-based Redecam Group in jt venture

Isgec Heavy Engineering has formed a joint venture - Isgec Redecam Enviro Solutions Pvt Ltd, with Italy-based Redecam Group SpA. In a disclosure to the exchanges, the Indian company said it will invest Rs 2 crore for holding 51 per cent stake in the joint venture, which will manufacture and market bag filters and air pollution control equipment. Isgec Heavy Engineering manufactures and sells heavy engineering equipment in India as well as overseas. Shares of Isgec Heavy Engineering jumped 10.28 per cent at ₹5,284.15 on the BSE.