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Lumax Auto Technologies zooms on entering into JV agreement with SIPAL S.p.A, Italy

26 Nov 2015 Evaluate

Lumax Auto Technologies is currently trading at Rs. 371.40, up by 33.60 points or 9.95% from its previous closing of Rs. 337.80 on the BSE.

The scrip opened at Rs. 344.80 and has touched a high and low of Rs. 387.00 and Rs. 342.00 respectively. So far 71620 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 387.15 on 16-Jan-2015 and a 52 week low of Rs. 218.20 on 15-Jun-2015.

Last one week high and low of the scrip stood at Rs. 371.40 and Rs. 294.00 respectively. The current market cap of the company is Rs. 507.09 crore.

The promoters holding in the company stood at 55.67% while Institutions and Non-Institutions held 15.44% and 28.89% respectively.

Lumax Auto Technologies has entered into Joint Venture (JV) agreement with SIPAL S.p.A of Italy (part of the Turin based euro 240 million FININC S.p.A. group) to entered into the Indian aerospace and defence sector. As per the JV agreement, the company will hold 51% equity with management control over the JV and SIPAL S.p.A. will hold 49% equity in the new JV company under formation.

The proposed JV is expected to become operational in FY 2017 and will be a full service provider for all type of Integrated Logistic Support Engineering having a strong knowledge and experience in Technical Publishing, Product / Manufacturing engineering, Process engineering, design and manufacture of toolings, design of systems of production lines related to the Aerospace, Defence & Automotive sectors.

Lumax Auto Technologies is a part of the D.K. Jain Group of companies that has carved its strong position in automotive parts like sheet metal parts, fabricated assemblies, tubular parts, for two wheeler and three wheeler industries.

 

Lumax Auto Tech Share Price

1792.75 -4.70 (-0.26%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
SamvardhanaMotherson 125.00
Tube Investments 2789.65
Bosch 37505.60
UNO Minda 1097.30
CIE Automotive India 490.15
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