Announced Sat, 11 Jul · 10:34 IST
Wholly owned US subsidiary divests stake in PLA Holding joint venture
Strategic Transactions View source PDF
ELGIEQUIP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-0.5%1-day move
₹575.10
prior close
₹570.40
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.1+0.2+1.0+0.6-0.5-0.7+0.9+1.2+2.4+1.2————
Up moveDown movePending
AI summary
Elgi's US unit ELGI Compressors USA Inc. sold its stake in US joint venture PLA Holding Company and its subsidiary Pattons of California for USD 100,000 plus release of exclusivity rights for oil flooded rotary screw air compressors in certain California counties. The JV contributed only 0.09 percent of consolidated profit and 0.23 percent of consolidated equity in FY26. Buyer is JV partner Jeffery Brandon Todd, unrelated to promoters. Transaction completed on 10 July 2026.
Likely market impact
Minimal financial impact given tiny JV contribution to consolidated numbers. Largely neutral for the stock; a small cleanup of overseas holdings.