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Archies jumps on entering into strategic partnership with Al Hasnae Gifts
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Archies is currently trading at Rs. 25.99, up by 0.49 points or 1.92% from its previous closing of Rs. 25.50 on the BSE.
The scrip opened at Rs. 25.55 and has touched a high and low of Rs. 26.30 and Rs. 24.51 respectively. So far 5346 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 2 has touched a 52 week high of Rs. 42.14 on 05-Mar-2024 and a 52 week low of Rs. 23.43 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 26.30 and Rs. 24.51 respectively. The current market cap of the company is Rs. 87.79 crore.
The promoters holding in the company stood at 62.25%, while Institutions and Non-Institutions held 0.22% and 37.53% respectively.
Archies has entered into a strategic partnership with Al Hasnae Gifts for the expansion in GCC market. This collaboration signifies a pivotal moment for the company as it launches operations in the UAE and plans further expansions into Oman, Saudi Arabia, and Bahrain, establishing a robust presence across the Middle East.
Having recently commenced operations in the UAE, the company’s products are now widely available through leading omnichannel retail platforms, reaffirming its commitment to delivering premium gifting solutions tailored to the region. Partnering with Al Hasnae Gifts, a renowned name in the GCC gifting industry, has facilitated the company's seamless integration into established retail networks, including Carrefour (MAF Retail), ADCOOP outlets in Abu Dhabi and Al Ain, and Union Co-op locations across Dubai.
This expansion reflects the company’s vision to bring thoughtfully designed products to global customers, ensuring accessibility through physical and online retail channels. For Al Hasnae Gifts, the collaboration represents an opportunity to elevate the gifting experience for Middle Eastern consumers, emphasizing meaningful connections and memorable moments.
Archies is leader in the social expression industry in India and deals in greeting cards, gifts and stationery Products under the brand name ‘Archies’.
