Titan Intech Ltd enters into MOU with Kakatiya Energy Systems Private Limited

Titan Intech Limited has entered a strategic Memorandum of Understanding (MoU) with Kakatiya Energy Systems Private Limited (KES) on October 5, 2024, to acquire 26% stake in the company.

Founded in 1999, Kakatiya Energy Systems Private Limited has been at the forefront of utilizing patented sensing technology for the automation of outdoor lighting. KES specializes in manufacturing lighting controls powered by advanced, innovative, and patented technologies, focusing on energy conservation and automation. With its vision to revolutionize human interaction with lighting, KES is a leader in providing cutting-edge smart lighting controls. ( www.natureswitch.com )

KES also develops IoT-based products for sectors such as elevator control, motor control, air conditioning control, and fire detection. Its wide customer base includes municipalities, private industries, public institutions, and large corporates.

Through this partnership, Titan Intech will expand its product portfolio to include advanced lighting controls, solar products and solutions, energy storage products, IoT solutions, and smart city infrastructure.

The collaboration will also support various sectors, including education, power, cement, and oil & gas. KES will maintain its focus on marketing and research and development (R&D), continuing to roll out new products for both Indian and export markets, while Titan Intech will concentrate on production through its upcoming EMS facilities and provide operations & maintenance (O&M) services.

Titan Intech's R&D team will work closely with KES's R&D department to ensure effective development and execution of these planned products and solutions.

This partnership will significantly boost Titan Intech's ability to execute the ₹360 crore order secured as an implementation partner of OBEL Systems Pvt Ltd. for weather monitoring systems, as well as the forthcoming ₹22 crore orders from KES for Centralized Control & Monitoring Systems (CCMS). Titan Intech will leverage KES's proven expertise in patented sensing and switching technology for remotely controlling electrical and electronic devices, ensuring smooth and timely project delivery.

The timing of this partnership aligns strategically with the Govt of India's recent announcement of ₹70,000 crore allocated for similar projects, as per Prime Minister Fasal Bima Yojana. With KES's technical capabilities, Titan Intech is well-positioned to capitalize on this opportunity and deliver state-of-the-art systems nationwide.

Shares of Titan Intech Limited was last trading in BSE at Rs. 38.05 as compared to the previous close of Rs. 40.05. The total number of shares traded during the day was 375118 in over 1807 trades.

The stock hit an intraday high of Rs. 41.87 and intraday low of 38.05. The net turnover during the day was Rs. 14927989.00.

Source : Equity Bulls

Keywords

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