Stocks

Lumax Auto Technologies rises; signs JV with Jopp Holding JMBH

Reuters Mumbai | Updated on April 12, 2019 Published on April 12, 2019

Lumax said signed a JV deal with Jopp Holding JMBH, Germany to make and sell automotive components   -  Website/Lumax Auto Technologies

Shares of automotive company Lumax Auto Technologies Limited climbed as much as 4.8 pe cent to Rs 142.6. This has been their biggest percentage gain since March 5.

The company on Thursday said signed a joint-venture (JV) deal with Jopp Holding JMBH, Germany to make and sell automotive components.

Under the JV, both partners will hold a 50 per cent share in the new entity, which will be named Lumax Jopp Allied Technologies

The JV will make an investment of Rs 75 crores ($10.85 million) over five years.

Published on April 12, 2019
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