Affordable Robotic gains 3.5% after announcing channel partner for its US arm

Affordable Robotic & Automation designs automation systems. The company offers line automation, conveyor, robotic inspection stations, welding fixtures, gauges, pneumatic, hydraulic and automatic car parking systems.

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Shares of Affordable Robotic and Automation Ltd gained nearly 3.5 percent on May 29 following the announcement of its collaboration with Toyota Lift Northwest. The company appointed Toyota Lift Northwest as the channel partner for its subsidiary, ARAPL Raas Private Ltd, in the United States.

At 1.43 pm, the stock was trading at Rs 328 on BSE, up 3.47 percent from its previous close while India’s benchmark Sensex rose 0.63 percent to 62,897 points.

“We would like to inform you that ARAPL RaaS International LLC which is 100% Subsidiary of ARAPL Raas Private Limited has Appointed Toyota Lift Northwest as Channel Partner in USA to Strengthen our Operations at US region,” the company said in a notice to exchanges.

The collaboration between ARAPL RaaS and Toyota Lift Northwest is set to be instrumental in boosting sales, overseeing installations, and delivering post-sales support for ARAPL RaaS products. By leveraging Toyota Lift Northwest’s extensive expertise and market insights, this partnership enables ARAPL RaaS to effectively cater to customers in the USA.

ARAPL RaaS’s decision to collaborate with Toyota Lift Northwest is a strategic move aimed at expanding the company’s presence in the US market. By leveraging cost efficiencies and extending its reach, this partnership aligns with ARAPL RaaS’s growth trajectory and bolsters its growth prospects in the region.

Affordable Robotic Automation has raised around Rs31.17 crore by issuing 3.67 million shares via SME initial public offerings. The issue is priced at Rs83 to Rs85 per share. The stock listed in May 2018.  The stock gained over 273 percent from its issue price.

Affordable Robotic & Automation designs automation systems. The company offers line automation, conveyor, robotic inspection stations, welding fixtures, gauges, pneumatic, hydraulic and automatic car parking systems.