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Fiem Industries stock rises 4% on JV with Aisan Industry, Toyota Tsusho

IIFL 2017-12-04 11:11:00
Shares of Fiem Industries rose 4% after the company has signed a MoU with Aisan Industry Co., Japan and Toyota Tsusho Corporation, Japan for establishing a joint venture company in India to manufacture Fuel Pump Module and IC connector Assembly for two-wheelers and three-wheelers.

Fuel Pump Module will become mandatory for two-wheelers and three-wheelers w.e.f. April 2020 under Bharat Stage VI (BS VI) regime.

This is an advanced Emission Control System Product, which will have a huge market in India under BS VI norms, the company said in the filing.

Fiem Industries Ltd is currently trading at Rs934.9, up by Rs41.1 or 4.6% from its previous closing of Rs893.8 on the BSE.

The scrip opened at Rs911.1 and has touched a high and low of Rs949.8 and Rs900.1 respectively.

Fiem Industries is one of the leading manufacturers of automotive lighting, signaling equipments and rear-view mirrors in India. Its revenue mix consists of the automotive segment (94%) and LED luminaires segment (6%) in FY17.