Stone India enters into exclusive understanding with ZRJC Ltd, China

Stone India Ltd has announced that the Company has entered into an exclusive understanding with ZRJC Ltd, Guangzhou, China for manufacturing & supply of Air Conditioning System along with Microprocessor based control system for passenger coach rolling stock & Metro Coaches. ZRJC Ltd is a leading supplier of such systems in China and Beijing Metro is fitted their systems.

With introduction of this product & inverter system, the Company will become a turnkey supplier of the complete power generation to air-conditioning systems to Indian Railways. With increasing emphasis on running of Air Conditioned coaches by Indian Railways and a number of Metro Projects on the anvil, these products will add substantial turnover of the Company in the future.

This product is proposed to be manufactured in the upcoming plant in Nalagarh, Himachal Pradesh, which enjoys both direct & indirect tax benefits.

The stock closed the day at Rs.139, down by Re.0.85 or 0.61%. The stock hit an intraday high of Rs.141 and low of Rs.139. The total traded quantity was 21779 shares compared to 2 week average of 6982.

Source : Equity Bulls

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