Marg to invest in Signa Infra
The Chennai-based Marg Constructions received shareholders approval to invest up to Rs 400 crore in securities of Signa Infrastructure India Ltd, a joint venture between Marg and Hudco (Housing and Urban Development Corporation Ltd), according to information provided by the company to the stock exchange. The shareholders also approved investing Rs 250 crore in securities of companies engaged in information technology and IT-enabled service sector and Rs 250 crore in those in construction and infrastructure sectors. The company’s borrowing limit was increased to Rs 1,000 crore at the annual general meeting held on September 30.
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