Loyal Equipments shines on entering into non-binding MoU with F2N Green Hydrogen Srl
Loyal Equipments is currently trading at Rs. 232.70, up by 12.85 points or 5.84% from its previous closing of Rs. 219.85 on the BSE.
The scrip opened at Rs. 219.95 and has touched a high and low of Rs. 239.95 and Rs. 219.95 respectively. So far 9639 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 342.00 on 26-Aug-2024 and a 52 week low of Rs. 153.65 on 26-Apr-2024.
Last one week high and low of the scrip stood at Rs. 244.95 and Rs. 215.70 respectively. The current market cap of the company is Rs. 252.22 crore.
The promoters holding in the company stood at 70.44%, while non-institutions held 29.56% stake in the company.
Loyal Equipments has entered into a non-binding Memorandum of Understanding (MoU) with F2N Green Hydrogen Srl, a company based in Italy. Loyal will undertake turnkey project orders in India integrating F2N’s electrolyser systems, targeting key market segments such as green hydrogen for refineries, steel plants, mobility, and renewable energy storage. F2N will support Loyal with commercial documentation, product presentations, and limited technical inputs necessary for presales and initial project discussions.
Loyal will be responsible for end-to-end project execution, including engineering, procurement, fabrication, integration, and after-sales support. A joint customer engagement strategy will be adopted during the initial phase, with F2N participating in key technical and commercial discussions. Over the next 12-18 months, both parties will assess market traction and project pipeline development. Based on successful order acquisition and feasibility, Loyal and F2N will evaluate the transition to local manufacturing in India using F2N’s proprietary technology and design.
Loyal Equipments is engaged in manufacturing and supplying of Coded Pressure Vessels & Heat Exchangers (Ferrous & Non Ferrous), Air Cooled Heat Exchangers, Skids for Dynamic and Static Machineries, Base-Plates, Sterilizers, Chimneys and Columns, Tanks & Receivers, Site Fabrication & Erection Activities.
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