Sparc Electrex Ltd updates on trademark license agreement with Hyundai

Sparc Electrex Limited has signed and thereby entered into an Exclusive Trademark License Agreement with Hyundai Corporation Holdings Co., Ltd, Korea for developing, producing, sourcing, selling, marketing and distributing the Power Tools and other related auxiliary activities in India under the brand.

Spare Electrex Limited will be able to launch a variety of:

- Power Tools like Drills, Impact Drills, Rotary and Demolition Hammers, Cutters, Angle Grinders, Circular Saws, Planer, Jigsaw, Chop Saw, Miter and Table Saw etc.

- High Pressure Washers, Industrial Vacuum Cleaners.

- Abrasives, Cutting and Grinding Wheels, Saw Blades, Drill Bits etc. which will be procured on OEM basis and sold in India under "HYUNDAI" brand.

As per the Agreement, the Company is permitted to sell above referred products manufactured in India or out sourced from companies in India or abroad under "HYUNDAI" brand.

Indian Power Tools market is dominated by international brands and this Agreement will help t he Company to face competitors aggressively.

This Agreement is expected to help the company in achieving higher sales and better margin in the future.

Shares of SPARC Electrex LTD. was last trading in BSE at Rs. 28.32 as compared to the previous close of Rs. 26.98. The total number of shares traded during the day was 28358 in over 107 trades.

The stock hit an intraday high of Rs. 28.32 and intraday low of 28.00. The net turnover during the day was Rs. 802996.00.

Source : Equity Bulls

Keywords

SPARCElectrex INE960B01015 TrademarkLicenseAgreement Hyundai PowerTools