Walchandnagar Industries made the announcement during trading hours today, 14 June 2011.

Meanwhile, the BSE Sensex was up 21.24 points, or 0.12%, to 18,287.27.

On BSE, 3.59 lakh shares were traded in the counter compared with average volume of 94,000 shares over the past two weeks.

The stock hit a high of Rs 136 and a low of Rs 126.25 so far during the day.

Walchandnagar Industries said it has signed a memorandum of understanding (MoU) with Russia's Atomenergomash and Atomstroyexport and the details of the joint venture are presently being worked out.

Walchandnagar Industries' net profit surged 171.4% to Rs 4.94 crore on 141% spurt in net sales to Rs 286.95 crore in Q2 March 2011 over Q2 March 2010.