Remsons Industries Hits Upper Circuit On Entering Into JV With Daiichi

On Monday, Remsons Industries shares hit its upper circuit of 5% to trade at a fresh 52-week high of Rs 942.45, from its previous closing of Rs 897.60 on the BSE.

About the Joint Venture

Remsons Industries has signed the Joint Venture (JV) agreement with Daiichi Infotainment Systems to make a 50:50 investment in the Automotive Electronics segment. This strategic collaboration brings together the expertise and resources of two industry-leading entities, Daiichi and Remsons, to pioneer innovative solutions that will drive the future of mobility.

As automotive technology continues to evolve at an unprecedented pace, the joint venture stands at the forefront of this revolution, committed to delivering cutting-edge electronic systems and components that will shape the vehicles of tomorrow. The joint venture will focus on developing advanced electronics solutions tailored to meet the demands of next-generation vehicles, including infotainment systems, Digital Clusters, rearview cameras, USB chargers, Shark Fin Antennas, AVAS systems, DMS.

Company profile

Established in 1971, Remsons Industries is an OEM Manufacturer supplying to two, three, and four wheelers all over India and exports globally. It exports majorly to the UK, Europe, North America, Brazil, Mexico and SAARC countries.

Stock Price Movement

Today, the stock opened at Rs 900 and has touched a high and low of Rs 942.45 and Rs 900, respectively. The BSE group ‘T’ stock of face value of Rs 10 has a 52-week high and low of Rs 942.45 and Rs 182, respectively. Last one week high and low of the scrip stood at Rs 942.45 and Rs 832.70, respectively. The current market cap of the company is Rs 538.46 crore.

The promoters holding in the company stood at 63.91%, while Institutions and Non-Institutions held 2.55% and 33.54%, respectively.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.