Larsen & Toubro has exited its investment in Coimbatore-based Salzer Electronics.
This divestment was concluded last week, said L&T in a release issued here today.
SC Bhargava, Senior Vice President and Head, L&T (Electrical and Automation), clarified that the exit from Salzer was part of a regular treasury transaction. "The business relationship would however continue as usual," he said.
L&T's business relationship with Salzer started in 1993 for marketing, sales and distribution of rotary switches and cable ducts.
Salzer Electronics was trading at Rs 270.50, up Rs 4 or 1.50 per cent at 1.45 pm. on the BSE.