Amber enters into 50% JV with Resojet

The Amber Group, a market leader in Room Air Conditioners (RAC), RAC components and non-RAC components has further expanded its consumer durables division by entering into a 50% joint venture with Telangana-based OEM Resojet Pvt Ltd ("Resojet", part of Radiant group company) which is one of the leading solution providers in manufacturing of fully automatic front load and top load washing machines.

This joint venture will propel Amber Enterprises' diversification beyond air conditioners, into the washing machine and its component segment, thereby solidifying its position within the consumer durables market.

Speaking about this partnership, the spokesperson for Amber Enterprises said, "This joint venture is a significant step forward for Amber Enterprises as we continue to expand our presence in the consumer durables market. By partnering with Resojet, we gain access to their expertise in manufacturing washing machines, allowing us to offer a wider range of high-quality products to our customers."

Speaking about this partnership, the spokesperson for Radiant group said, " Resojet is excited for this partnership , together we shall bring more value for our customers & also further strengthening groups association for various other consumer electronics & durable products."

Shares of Amber Enterprises India Limited was last trading in BSE at Rs. 3408.65 as compared to the previous close of Rs. 3225.55. The total number of shares traded during the day was 19367 in over 3151 trades.

The stock hit an intraday high of Rs. 3440.00 and intraday low of 3241.85. The net turnover during the day was Rs. 64703189.00.

Source : Equity Bulls

Keywords

AmberEnterprisesIndia INE371P01015 JV Resojet