Pricol shares gain 3% on deal with Chinese firm for advanced technologies

The share touched a 52-week high of Rs 352.50 and a 52-week low of Rs 170.70 on 06 October, 2023 and 17 November, 2022, respectively.

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Shares of Pricol traded up 3 percent at Rs 338.25 in early trade on October 12 after the company entered a co-operation agreement with China’s Heilongjiang Tianyouwei Electronics Co Ltd.

This agreement will enable Pricol and Heilongjiang Tianyouwei Electronics to closely work with each other through technology transfer and supply partnership to provide advance technologies in Driver Information System Solutions for Indian vehicle makers across various vehicle segments.

Heilongjiang Tianyouwei Electronics is incorporated under the laws of the People’s Republic of China.

Heilongjiang Tianyouwei Electronics will support Pricol exclusively on the projects identified for such advance technologies in Driver Information System for various vehicle segments in Indian market. In addition to the technology, Pricol will source components and/or sub-assemblies from TYW as part of the supply arrangement.

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The meeting of the board of directors of the company will be held on November 8, 2023 to consider the unaudited financial results (Standalone & Consolidated) for the quarter and half year ended September 30, 2023.

The share touched a 52-week high of Rs 352.50 and a 52-week low of Rs 170.70 on 06 October, 2023 and 17 November, 2022, respectively. The stock is trading 4.04 percent below its 52-week high and 98.15 percent above its 52-week low.