Johnson Controls gains on planning to expand its existing design, development capabilities

05 Nov 2018

Johnson Controls - Hitachi Air Conditioning India is currently trading at Rs. 1778.55, up by 6.35 points or 0.36% from its previous closing of Rs. 1772.20 on the BSE.

The scrip opened at Rs. 1798.00 and has touched a high and low of Rs. 1800.00 and Rs. 1772.00 respectively. So far 31 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2750.00 on 09-May-2018 and a 52 week low of Rs. 1505.00 on 09-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1800.00 and Rs. 1570.00 respectively. The current market cap of the company is Rs. 4836.03 crore.

The promoters holding in the company stood at 74.25%, while Institutions and Non-Institutions held 16.48% and 9.26% respectively.

Johnson Controls-Hitachi Air Conditioning is aiming to strengthen its product offerings and provide customers with state-of-the-art technology benefits. Hence, company is planning to expand its existing design and development capabilities by setting up additional labs and hiring more engineers in a phased manner. Through this development center, the company plans to cater not only to Indian market but also to global requirements across Johnson Controls-Hitachi group entities. The company plans to invest around Rs 140 crore for this activity during 2018-19 and 2019-20.

The center will host best in class infrastructure to design and develop various types of air conditioning products of global standards catering to various regions and different customer needs. The same is being developed on the lines of existing design and development centers of the Johnson Controls-Hitachi group located in Japan, China and Taiwan. Once fully functional, it would support the company in launching series of energy efficient and feature rich air conditioning products at economical prices.

Johnson Controls-Hitachi Air Conditioning is engaged in manufacturing a range of electronic home solutions.The product range of the company includes window ACs, split AC, tower and packaged air conditioners, 2- and 3-door refrigerators &fully automatic machines.

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