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International Combustion shines on entering into MOU with Allgaier to form JVC

17 Dec 2012

International Combustion is currently trading at Rs. 235.00, up by 13.55 points or 6.12% from its previous closing of Rs. 221.45 on the BSE.

The scrip opened at Rs. 224.00 and has touched a high and low of Rs. 235.00 and Rs. 224.00 respectively. So far 1,030 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 295.80 on 06-Jul-2012 and a 52 week low of Rs. 220.05 on 14-Dec-2012.

Last one week high and low of the scrip stood at Rs. 237.50 and Rs. 220.05 respectively.The current market cap of the company is Rs. 56.00 crore.

The promoters holding in the company stood at 53.00% while Institutions and Non-Institutions held 0.01% and 46.99% respectively.

International Combustion India has entered into a memorandum of understanding (MOU) with Allgaier Werke GmbH (Allgaier), Germany, for formation of a joint venture company (JVC), which shall be engaged in the marketing, commissioning and servicing of Motor Type Dryer and its accessories, to be manufactured by the company under license from Allgaier Process Technology GmbH, Germany.

International Combustion started its manufacturing activities, and presently has three manufacturing divisions - Heavy Engineering Division, Polymer Division and Bauer Division. It has fully equipped manufacturing facilities at Calcutta, Nagpur and Aurangabad to ensure total control over production and product quality.

Related International Combustion (India) Ltd. Links:

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SEBI Registered: Investment Adviser - INA000013323