Sundaram Fasteners buys stake in unit

Newswire

MUMBAI, Aug 27 (Reuters) - Sundram Fasteners Ltd (SFL) said on Wednesday it has acquired 52.9 percent stake in Sundram Non-conventional Energy Systems (SNES). SNES, which produces power through windmills, was a subsidiary of Sundram Fasteners Investments Ltd and Upasana Engineering Ltd, both wholly-owned subsidiaries of SFL, the company said in a statement to the BSE. (Reporting by Swati Pandey; Editing by Prem Udayabhanu)

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