India's Lumax Auto Technologies rises; co signs JV with Jopp Holding JMBH

Lumax Auto Technologies

12/04/2019 05:12

** Shares of automotive company Lumax Auto Technologies
Limited  LUAT.NS  climb as much as 4.8 pct to 142.6 rupees,
their biggest pct gain since March 5
    ** Co on Thursday said signed JV deal with Jopp Holding
JMBH, Germany to make and sell automotive components
 urn:newsml:reuters.com:*:nFWN21T0LC
    ** Under JV, both partners will hold an equal 50 pct share
in new entity to be named Lumax Jopp Allied Technologies
    ** JV co will make an investment of 750 mln rupees ($10.85
mln) over 5 years
    ** About 67,807 shares change hands compared with the 30-day
average of around 57,742 shares
    ** Stock hits its highest since April 3

($1 = 69.1550 Indian rupees)

 ((harish.bhaskar.thomsonreuters.com@reuters.net))