Bonus Share News: Fiem Industries' stock surged 15% intraday on the BSE on Monday after the firm said that its board will meet on January 15 to discuss bonus issues, setting a new high of Rs 2,441.80. According to an exchange filing by Fiem Industries, among other things, the board of directors will meet on January 15, 2024, to discuss and, if approved by the company's shareholders, recommend issuing bonus shares.
Diverse Product Portfolio
Plastic moulded parts, rear view mirrors, automotive lighting and signalling equipment, and other auto components are produced by Fiem Industries. The company also produces LED products and luminaries for general lighting applications, as well as LED integrated passenger information systems for railroads and buses, among other applications.
Optimistic Growth Outlook
The management anticipates that the company will continue to gain from its varied clientele and range of products. In the second quarter of the current fiscal year, the two-wheeler industry reported producing 5.6 million units. The management anticipates a robust second half propelled by the holiday season and an increase in demand in rural areas.
In the meantime, Fiem Industries has partnered with Gogoro India and executed an MOU to broaden its line of products in the Electric-2W market. A subsidiary of Gogoro Taiwan, the top producer of electric two-wheelers in Taiwan and a global pioneer in battery switching technology, is Gogoro India.
Comprehensive Support from Gogoro
Gogoro will offer production, quality, and testing support for the new product line in addition to technical know-how and other assistance in setting up the manufacturing facility. According to Fiem's FY23 annual report, this cooperation will allow it to enter the electronics market, which might lead to considerable growth and new opportunities in the EV market.
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