This S&P BSE Smallcap Stock rose 3.7% within the first hour of markets opening after reporting that it signed an MoU with a China Based Firm. The company has a market cap of Rs. 4,110 crore and is 4% away from its 52 week high, trading at Rs. 337.25 versus Rs. 328.05 at previous close.
The stock is seeing volumes that are over 1x the monthly average. The company’s shareholding has 2.3% held by Birla Group
In a filing dated 12th October 2023, Pricol Ltd (“Pricol”) stated that the company has entered into a Cooperation Agreement with Heilongjiang Tianyouwei Electronics Co, Ltd, a company incorporated under the laws of P.R. China.
This agreement will enable Pricol and Heilongjiang Tianyouwei Electronics to closely work with each other through technology transfer and supply partnership in order to provide advanced technologies in Driver Information System Solutions for Indian vehicle makers across various vehicle segments.
Heilongjiang Tianyouwei Electronics Co, Ltd will support Pricol exclusively on the projects identified for advance technologies in Driver Information System for various vehicle segments in the Indian market. In addition to the technology, Pricol Limited will source components and/or subassemblies from Heilongjiang Tianyouwei Electronics Co, Ltd as part of supply arrangement.
Commenting on the partnership, Mr. Vikram Mohan, Managing Director, Pricol Limited said, This partnership with TYW is a testament to our commitment to driving innovation in the Indian automotive sector. We are confident that our efforts will help in providing state-of-the-art solutions in the Driver information system space, where Pricol has a dominant position in Indian market.
Pricol’s domain expertise combined with TYW’s technological prowess marks a significant step towards achieving a vision of enhancing the driving experience for Indian Customers.”
With its headquarters in Coimbatore, Pricol is one of India’s top providers of automotive technology. Beginning its operations in 1975 in Coimbatore, South India, Pricol has grown into a reputable global brand in the automotive component and product industry that is well-recognized by leading automotive OEMs all over the world.
With its headquarters in Suihua City, Heilongjiang Tianyouwei Electronics was established in 1998. For automotive and industrial applications, the company makes Driver Information Systems, Control Panels, e-cockpit solutions, and displays.
One of the biggest manufacturers of driver information systems in China and a supplier to numerous OEMs worldwide is Heilongjiang Tianyouwei Electronics.
Written by Sandeep
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