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Lumax Auto gains after JV with Germany's JOPP

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rose 2.47% to Rs 138.90 at 10:31 IST on BSE after the company announced its joint venture with Germany's to manufacture and to the Indian automotive industry.

The announcement was made after market hours yesterday, 11 April 2019.

Meanwhile, the S&P was up 66.34 points, or 0.17% to 38,673.35.

On the BSE, 5,554 shares were traded in the counter so far compared with average daily volumes of 3,500 shares in the past two weeks. The stock had hit a high of Rs 142.50 and a low of Rs 136.10 so far during the day. The stock hit a 52-week high of Rs 224.10 on 16 August 2018. The stock hit a 52-week low of Rs 127 on 28 June 2018.

announced its joint venture with JOPP, to manufacture and to the Indian automotive industry. Under the joint venture, both the partners will hold an equal 50% share in the new entity to be named Lumax While will bring the world for its products to joint venture, Lumax will provide its 7 decades' rich experience towards management of the JV in Focus of JV is towards self-reliance in technology & establish a state of art R&in along with manufacturing operations.

JOPP is a European company with expertise in transmission & shift systems parts serving OEMs worldwide. are a major focus area with high in-house value add for shift towers, integrated all & AMT kits for various applications for manual & automated transmissions.

On a consolidated basis, net profit of rose 33.41% to Rs 17.37 crore on 15.44% rise in net sales to Rs 320.01 crore in Q3 December 2018 over Q3 December 2017.

Lumax Auto Technologies manufactures a wide range of products (lighting module, frame chassis, integrated plastic modules, gear shift lever, intake systems, seat frames & mechanisms etc). The company is a market leaders in design, testing and in

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, April 12 2019. 10:25 IST
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