Fiem Industries is currently trading at Rs. 360.00, up by 3.90 points or 1.10% from its previous closing of Rs. 356.10 on the BSE.
The scrip opened at Rs. 357.15 and has touched a high and low of Rs. 365.55 and Rs. 352.00 respectively. So far 3384 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 365.00 on 24-Jan-2014 and a 52 week low of Rs. 179.05 on 04-Sep-2013.
Last one week high and low of the scrip stood at Rs. 365.00 and Rs. 336.00 respectively. The current market cap of the company is Rs. 425.97 crore.
The promoters holding in the company stood at 69.96 %, while Non-Institutions held 30.04%.
Fiem Industries has signed a Memorandum of Understanding (MoU) with two Japanese companies namely, Honda Lock Mfg. Company, Japan and Toyota Tsusho Corporation, Japan for a joint venture (JV) proposal in India for manufacturing of Key Sets, Door Mirrors and Outside Handles. The Japanese companies are group companies of Japanese conglomerates Honda and Toyota, respectively.
This is a major breakthrough in diversification of the product line as well as enhancing the presence of the company in four-wheel segment and being a new product line for the company, will add new dimensions to the growth of the company. The Key Sets will be for four-wheel as well as for two-wheel vehicles also.
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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