The Hindu reported that TATA Group Company Voltas has increased its stake to 60% in Lalvol, a JV between the Indian company and Oman based Lalbuksh Contracting and Trading Establishment.

The company said that it has bought 11% stake in the JV firm Lalbuksh Voltas Engineering Services & Trading LLC for around INR 6.65 crore. It has acquired 11% shareholding of the local partner in Lalvol for INR 6.65 crore and increased the shareholding from 49% to 60% in Lalvol.

Accordingly, Lalvol has become a subsidiary of Voltas Limited effective March 31st 2011. The JV is engaged in water and oil well drilling, water management and landscaping businesses.

(Sourced from www.hindu.com)