Pavna Industries jumps on entering into joint venture agreement with SMC
Pavna Industries is currently trading at Rs. 428.35, up by 18.00 points or 4.39% from its previous closing of Rs. 410.35 on the BSE.
The scrip opened at Rs. 448.95 and has touched a high and low of Rs. 448.95 and Rs. 418.00 respectively. So far 1131 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 759.55 on 14-Oct-2024 and a 52 week low of Rs. 295.20 on 03-Mar-2025.
Last one week high and low of the scrip stood at Rs. 448.95 and Rs. 355.35 respectively. The current market cap of the company is Rs. 597.75 crore.
The promoters holding in the company stood at 61.50%, while Institutions and Non-Institutions held 6.38% and 32.13% respectively.
Pavna Industries has entered into a joint venture agreement with SmartChip Microelectronic Corporation (SMC), Taiwan based Company, who will offer to undertake and carry on the business of inter alia making electronic components for the automobile industry (ICE & EV) and for other industries like hardware for cupboard/door locks etc. in residential/commercial industries, aero, medical etc.to Pavna.
Under the agreement, Pavna will bring its operational, manufacturing, and procurement expertise, as well as its deep understanding of the Indian automotive market, to oversee and manage the JV’s operations in India. SMC will contribute its present and future technical skills, innovations, and R&D capabilities in automotive e-lock systems, EV components like Motor Controller, Throttle Body, Dashboard for 2W & 3W, EV charging piles, and e-locking solutions for residential and commercial applications. SMC’s engineering and product development expertise will ensure the JV remains technologically advanced and globally competitive. Pavna Industries will hold 80% equity in the JV, while SMC will hold 20%.
Pavna Industries is engaged in manufacturing of wide range of automotive components for reputed Original Equipment Manufacturers (OEMs) as per their requirements primarily catering to various vehicle segments, including, passenger vehicles, two-wheelers, three-wheelers, heavy and light commercial vehicles and off-road vehicles.
