India's Kabra Extrusion climbs on two-wheeler battery-pack development deal
BUZZ-India's Kabra Extrusion climbs on two-wheeler battery-pack development deal ** Extrusion machinery provider Kabra Extrusion Technik's shares KBRE.NS rise as much as 5.68% to 591.75 rupees
** Gain follows a new battery-pack development mandate under its GEON brand
** Company receives letter of intent from one of India's top three two-wheeler manufacturers; GEON collaborates with the customer on two battery-pack programmes
** Arrangement covers both development and supply
** KBRE's filing does not identify the vehicle maker or disclose order value, volumes, or timelines
** Last week, KBRE said it will start battery pack production for four-wheeler passenger vehicles starting in September, signalling company's push to advanced battery solutions
** KBRE shares last up 2%, taking year-to-date gains to 151%
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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