Stock Report

Forbes & Company Limited to form JV with Macsa ID

Posted On : 2022-08-16 11:11:15( TIMEZONE : IST )

Forbes & Company Limited to form JV with Macsa ID

The Board of Directors of the Company at their meeting have approved in principle, a proposal to enter into a Joint Venture with Macsa ID for providing innovative laser marking and traceability solutions for the entire range of materials - metals & non-metals. It is proposed to set up joint venture company with equal participation of both, the Company and Macsa ID.

Macsa ID is one of the 4 leading companies internationally in the field marking and traceability and offers comprehensive solutions to the food, beverages, pharmaceutical, healthcare, cosmetics, industrial engineering sector which sector includes automotive, aeronautics, defense, construction etc. Macsa ID is recognized as a world leader in technological innovation in lasers for marking and coding.

The proposed JVC shall carry out business providing innovative solutions for laser coding, tracing and marking on a wide range of materials used in various industries which includes Industrial, FMCG and other sectors.

The proposed joint venture company will have equal and working capital participation of the Company and Macsa ID in 50:50 ratio.

Shares of FORBES & COMPANY LTD. was last trading in BSE at Rs. 516.75 as compared to the previous close of Rs. 430.65. The total number of shares traded during the day was 39897 in over 1119 trades.

The stock hit an intraday high of Rs. 516.75 and intraday low of 435.00. The net turnover during the day was Rs. 19697704.00.

Source : Equity Bulls