Shanthi Gears Ltd. (SGL) has entered into an agreement with Shreeji Metazine LLP for purchase of land and buildings at Sanand, Gujarat, for an undisclosed sum.
Tube Investments of India Ltd.’s subsidiary has been actively exploring the growth opportunities in the west and north regions to meet its business requirements, the firm said in a regulatory filing on Thursday.
The plant and machinery would be used for expansion of its gear manufacturing and servicing activities, SGL said.
Shares of the company gained ₹12.90, or 3.74%, to close at ₹358.05 on the BSE on Thursday.
