Greaves Cotton Limited inks agreement with Tsuyo Manufacturing Pvt Ltd

Greaves Cotton Limited has executed a Technology Transfer and Supply Agreement ("Agreement") with Tsuyo Manufacturing Private Limited ("Tsuyo") wherein Tsuyo has agreed to transfer knowhow as well as the relevant manufacturing machinery pertaining to motors. wound motors and controllers of low speed 3-wheeler category (L3) vehicles.

One Time Technology fees of Rs.2.5 crore to be paid in 2 instalments. Additionally, Tsuyo shall be entitled to a factorage fee percentage on sale of Finished Goods by GCL.

The Collaboration helps us to have access to the know-how and manufacturing machinery in relation to low speed 3-wheeler category (L3) vehicles. This will provide growth opportunity to the Company in 3W Segment.

Shares of Greaves Cotton Limited was last trading in BSE at Rs. 127.95 as compared to the previous close of Rs. 127.30. The total number of shares traded during the day was 70175 in over 797 trades.

The stock hit an intraday high of Rs. 129.50 and intraday low of 127.55. The net turnover during the day was Rs. 9019860.00.

Source : Equity Bulls

Keywords

GreavesCotton INE224A01026 Agreement TechnologyTransfer Supply TsuyoManufacturing Motors L3Vehicles