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06-Sep2016

Fiem Industries rises on inking MoU to establish JVC in India

Fiem Industries is currently trading at Rs. 1044.05, up by 13.30 points or 1.29% from its previous closing of Rs. 1030.75 on the BSE.

The scrip opened at Rs. 1052.25 and has touched a high and low of Rs. 1052.25 and Rs. 1039.95 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1079.85 on 19-Aug-2016 and a 52 week low of Rs. 478.00 on 08-Sep-2015.

Last one week high and low of the scrip stood at Rs. 1062.55 and Rs. 993.50 respectively. The current market cap of the company is Rs. 1,248.00 crore.

The promoters holding in the company stood at 69.96%, while Institutions and Non-Institutions held 11.90% and 18.14% respectively.

Fiem Industries has signed a Memorandum of Understanding (MoU) with Su-Kam Power Systems for proposal of establishing a 50:50 Joint Venture Company (JVC) in India for the purpose of selling and marketing LED lighting products manufactured by Fiem Industries under joint brand 'Su-kam FIEM'.

Both the companies have agreed to synergize their existing capabilities to work jointly and management of Fiem Industries envisages that this will be a strategic marketing venture, as nationwide distribution network of Su-kam will be available for Retail Market in Indian Territory for LED Lighting products manufactured by the company.

Fiem Industries is one of the leading manufacturers of automotive lighting & signaling equipments and rear view mirrors. The company is supplying its products to almost all major OEMs in the domestic market as well as few global OEMs.



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