Fiem Ind gains on tech pact with Singapore firm

Signed a Memorandum of Understanding for technical collaboration with BrightLite Systems Pte Ltd, Singapore.

Fiem Industries has soared 10% to Rs 207 after the company said it has signed a Memorandum of Understanding (MoU) for technical collaboration with BrightLite Systems Pte Ltd, Singapore.

“Under this technical collaboration, company will manufacture first time in India, hand removable LED Modules of various wattages to be used in In-door as well as Out-door applications,” Fiem Industries said in a filing.

The management believes that diversification in LED products will give a quantum leap to the company and will substantially contribute in the growth of the company.

BrightLite Systems Pte Ltd, Singapore is a highly reputed company engaged in research of advanced solutions in LED lighting with the support of Singapore Government and hold worldwide patent in advanced LED Technology product(s).

The stock opened at Rs 162 and touched high of Rs 212 on the NSE. The counter has huge trading activities with a combined 509,055 shares have already changed hands so far against an average less than 50,000 shares that were traded daily in past two weeks.