India's Epack Durable rises after agreement with Chinese co Hisense

Hisense Home Appliances

22/10/2024 07:40

** Epack Durable  EPAC.NS  climbs exchange-allowed upper
circuit of 5% to 408.55 rupees
    ** Home appliances maker signs deal with Shenzhen-listed
Hisense  000921.SZ  to set up manufacturing facility in India to
produce Hisense's air conditioners and home appliances
    ** EPAC will invest in new manufacturing facility in Andhra
Pradesh, with initial production set to begin in June 2025
    ** Co did not disclose deal amount and investment required
    ** Overall 677,423 shares traded, 0.2x 30-day average
    ** EPAC up ~85% since its listing on Jan. 30

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))