Maruti Interior Products surges on planning to invest in Arrowin Metaltech India
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Maruti Interior Products is currently trading at Rs. 215.00, up by 6.00 points or 2.87% from its previous closing of Rs. 209.00 on the BSE.
The scrip opened at Rs. 199.25 and has touched a high and low of Rs. 219.45 and Rs. 199.25 respectively. So far 33000 shares were traded on the counter.
The BSE group 'MT' stock of face value Rs. 10 has touched a 52 week high of Rs. 219.45 on 10-Jan-2025 and a 52 week low of Rs. 71.11 on 19-Sep-2024.
Last one week high and low of the scrip stood at Rs. 219.45 and Rs. 199.05 respectively. The current market cap of the company is Rs. 331.37 crore.
The promoters holding in the company stood at 74.78%, while Non-Institutions held 25.22% in the company.
Maruti Interior Products is planning to invest in Arrowin Metaltech India, following the successful completion of a comprehensive due diligence process.
The investment is in line with company’s strategic vision to strengthen its position in the rapidly growing market for Telescopic Drawer Slides. This market is poised for significant expansion, supported by recent policy initiatives by the Government of India aimed at boosting local manufacturing under the Make in India initiative. Specifically, the imposition of Bureau of Indian Standards (BIS) regulations and the Anti-Dumping Duty (ADD) on Telescopic Ball Bearing Slides is expected to reduce India's dependency on imports and provide a favorable environment for domestic players.
Arrowin Metaltech has already secured the critical BIS certification, underscoring its commitment to quality and compliance with industry standards. This partnership will enable both companies to capitalize on a robust and growing order book, further driving local production and contributing to the national economic goals. As part of the agreement, the company will work closely with Arrowin Metaltech to enhance product innovation, streamline production processes, and expand market reach. This collaboration is expected to yield significant benefits, not only for both organizations but also for the broader manufacturing ecosystem in India.
Maruti Interior Products is manufacturer of high quality and durable range of modular Vertical Storage, Corner Storage, Drawer Pull Outs, Aluminium Profiles for Kitchens & wardrobe, Midway Storage etc.
