This multibagger penny stock announces exclusive agreement with Hyundai!
In the past 3 years, the stock has given multibagger returns of more than 570 per cent
On Tuesday, shares of Sparc Electrex surged and reached the upper circuit limit of 5 per cent, trading at an intraday high of Rs 28.32 apiece on the BSE. The scrip experienced a significant increase in trading volume.
The company has informed the exchange about entering into an exclusive trademark license agreement with Hyundai Corporation Holdings Co. This agreement encompasses the development, production, sourcing, selling, marketing, and distribution of power tools and other related activities in India under the Hyundai brand.
According to the agreement, the company is authorized to market power tools such as drills, impact drills, rotary and demolition hammers, cutters, angle grinders, circular saws, planers, jigsaws, chop saws, miter saws, table saws, and similar products. These items can be manufactured in India or sourced from companies in India or abroad, all to be sold under the "Hyundai" brand.
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Sparc Systems Ltd specializes in software and hardware electronic security solutions, including office automation tools.
Over the past 3 years, the stock has delivered impressive returns of over 570 per cent. The stock has witnessed significant buying activity, resulting in an 80 per cent surge in just 1 year. It is advisable to closely monitor this trending stock.