Pricol Ltd, the global automotive component manufacturer, experienced a 3.53% rise in share price on Thursday, following a technology transfer agreement with China's Heilongjiang Tianyouwei Electronics Co Ltd. The partnership aims to deliver advanced Driver Information System Solutions to the Indian market while also sourcing components from the Chinese firm.
The deal led to an increase in Pricol's market cap, which climbed to Rs 4,124 crore ($551 million), and saw a high turnover of Rs 52.22 crore ($7 million) on the BSE. It was noted that Pricol's shares traded above all moving averages on this day.
Vikram Mohan, Managing Director of Pricol, highlighted the company's strong position in the Indian market and expressed optimism about the potential of the new partnership. "This collaboration will significantly enhance the driving experience in India," he stated.
The recent agreement with Heilongjiang Tianyouwei Electronics Co is expected to further strengthen Pricol's influence in the automotive industry.
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