Multibagger Stock engaged in the business of designing and manufacturing consumer durables, electronics, Railway sub-systems, and many more jumped upto 4 percent in the day’s trade upon forming a JV with overseas players to further expand its key offerings of railway subsystems.
With a market capitalization of Rs. 13,000 Crores, the shares of Amber Enterprises Limited were trading at Rs. 3,857, up 2.69 percent from its previous day’s close price of Rs. 3,756.25. It has delivered multibagger returns of 106 percent.
A definitive agreement has been executed between Amber Enterprises Limited’s step-down subsidiary AT Railway Sub Systems, Yujin Machinery Ltd., a South Korean company & Sinkodia Pte. Ltd., a Singapore-based company & Dujin International, a Hong Kong-based company, for Investment and formation of a new Joint Venture Company (‘JVC’) In India.
The JV is formed to carry on the business of manufacturing all types of Driving Gears, Couplers, and Pantograph for various rolling stocks, including all types of wagons, trams, Vande Bharat trains, Indian Railways products, high-speed and metro trains, regional rapid transit systems, etc, in India or other places, agreed upon between the parties
This Joint Venture will enable the Group to further expand its key offerings of railway subsystems into Pantographs, Couplers, and Driving Gears, through the expertise of Yujin Machinery Limited and the other parties will finance the JV. The agreed parties will initially invest an amount aggregating to a total of Rs. 5 Crores into the Joint Venture
Amber Enterprises Limited is engaged in the business of designing and manufacturing of consumer durables, electronics, Railway sub-systems, and mobility products like, Air Conditioners, refrigerators, smart watches, TVs, Coach HVAC Systems, Driver Cab ACs, Gangways, related functional components, and many more.
Its revenue from operations declined by 3.97 percent from Rs. 1,348.31 Crores in Q3FY23 to Rs. 1,294.76 Crores in Q3FY24, accompanied by a profit of Rs. 15.08 Crores to a loss of Rs. 51 Lakhs.
Written by: Bharath K.S
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