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Lumax Auto Technologies shines on signing agreement with JOPP to form JV Company

Lumax Auto Technologies is currently trading at Rs. 141.10, up by 5.55 points or 4.09% from its previous closing of Rs. 135.55 on the BSE.

The scrip opened at Rs. 141.00 and has touched a high and low of Rs. 142.50 and Rs. 136.10 respectively. So far 2311 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 2 has touched a 52 week high of Rs. 224.10 on 16-Aug-2018 and a 52 week low of Rs. 127.00 on 28-Jun-2018.

Last one week high and low of the scrip stood at Rs. 142.50 and Rs. 133.00 respectively. The current market cap of the company is Rs. 923.88 crore.

The promoters holding in the company stood at 55.64%, while Institutions and Non-Institutions held 23.33% and 21.03% respectively.

Lumax Auto Technologies has entered into Joint Venture (JV) with JOPP, Germany to manufacture and supply transmission products to the Indian automotive industry. Under the JV, both the partners will hold an equal 50% share in the new entity to be named ‘Lumax JOPP Allied Technologies’.

While JOPP will bring the world class technology for its products to JV, Lumax will provide its 7 decades’ rich experience towards management of the JV in India. Focus of JV is towards self-reliance in technology & establish a state of art Research and development (R&D) centre in India along with manufacturing operations.

Lumax Auto Technologies has carved its strong position in automotive parts like sheet metal parts, fabricated assemblies, tubular parts, for two wheeler and three wheeler industry. They operate in two segments, namely Automotive Parts and Trading of Motor Adjusters.

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