1,000 per cent returns & FIIs increase stake; Board likely to announce stock split; Company enters into 50:50 JV with Daiichi for automotive electronics!
The stock gave multibagger returns of 340 per cent in just 1 year and a whopping 1,000 per cent in 3 years.
Remsons Industries Ltd informed you that a meeting of the Board of Directors of the company is scheduled to be held on Tuesday, February 27, 2024, inter alia to consider sub-division/split of the equity shares of the company in such manner as may be determined by the Board of Directors, subject to the approval of the members of the company and such other regulatory/statutory approvals as may be required in this regard.
Remsons Industries Ltd also announced the establishment of a ground-breaking 50:50 joint venture poised to redefine the landscape of automotive electronics. This strategic collaboration brings together the expertise and resources of two industry-leading entities, DAIICHI and REMSONS, to pioneer innovative solutions that will drive the future of mobility.
The joint venture is a leader in the fast-paced automotive revolution, designing and manufacturing cutting-edge electronic systems and components for future vehicles. By combining Daiichi's expertise in design and manufacturing with Remsons' deep industry experience, we are poised for success, leveraging the strengths of Dogan Group, a large Turkish conglomerate with 4,000+ employees and USD 2 billion in revenue. Daiichi itself boasts a 3.5 lakh sq. ft. manufacturing facility in Istanbul, Turkey, and a global team of 1,500+ employees serving major automakers like Mahindra, ISUZU, Hyundai, Ford, and more.
India’s automotive electronics market is likely to cross USD 18 billion by 2027 from USD 6 billion in 2020 with a CAGR of 17 per cent.
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Established in 1971, Remsons Industries Ltd is a leading manufacturer of auto components like control cables, gear shifters, and parking brakes. They cater to over 20 major automakers across India and globally, including Maruti Suzuki, Ford, and Jaguar Land Rover, operating 5 manufacturing plants across India and the UK. With a presence in 19+ countries, Remsons offers a diverse product portfolio and holds 3 foreign subsidiaries, solidifying its global reach.
Today, shares of Remsons Industries Ltd gained 0.98 per cent to Rs 941.40 with an intraday high of Rs 947.85 and an intraday low of Rs 891.05. The stock’s 52-week high is Rs 968.95 and its 52-week low is Rs 182.
The company has a market cap of over Rs 500 crore and shares of the company have a PE of 57x, an ROE of 21 per cent & an ROCE of 16 per cent. The stock gave multibagger returns of 340 per cent in just 1 year and a whopping 1,000 per cent in 3 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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