Suprajit Engineering soars on signing MoU with Chuo Spring Company, Japan
Suprajit Engineering is currently trading at Rs. 459.70, up by 8.75 points or 1.94% from its previous closing of Rs. 450.95 on the BSE.
The scrip opened at Rs. 457.95 and has touched a high and low of Rs. 471.80 and Rs. 446.00 respectively. So far 9348 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 639.95 on 16-Aug-2024 and a 52 week low of Rs. 357.30 on 20-Dec-2023.
Last one week high and low of the scrip stood at Rs. 471.80 and Rs. 440.00 respectively. The current market cap of the company is Rs. 6276.41 crore.
The promoters holding in the company stood at 44.64%, while Institutions and Non-Institutions held 23.50% and 31.86% respectively.
Suprajit Engineering has signed memorandum of understanding (MoU) With Chuo Spring Company, Japan (Chuo). This collaboration includes a 50:50 joint venture (JV) in India to design, manufacture, and supply transmission cables, and a Technical Assistance (TA) agreement, which grants JV access to Chuo’s unique Japanese Transmission cable technology.
The JV and TA will first focus on delivering projects for India’s two leading Japanese PV OEMs. The collaboration brings together two globally recognised cable suppliers. It extends the reach of Chuo’s special Transmission cable technology to India and may further support Suprajit’s global OEM customers. The collaboration further expands SEL’s product range to key Japanese customers, and the transmission cable market, going forward.
Suprajit Engineering is engaged in the business of manufacturing and selling of automotive and other components and that are considered as single segment.
