FOREX UPDATE

Thane-headquartered EMCO Limited has informed that it has sold its wholly owned subsidiary EMCO Energy Limited to GMR Energy Limited, which is a wholly owned subsidiary of GMR Infrastructure Limited.

At present, EMCO Energy is in the process of implementing 300 MW thermal power project (Phase 1) at Warora, Maharashtra, as part of the Group's power generation strategy.

CRISIL Risk and Infrastructure Solutions Limited acted as advisors to EMCO Limited for this transaction.

The share of EMCO closed on Friday at Rs 86, while scrip of GMR Infrastructure settled the day at Rs 141 on BSE.