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Autoline Industries share price up 10% on Kinetic Green agreement

There were pending buy orders of 12,985 shares, with no sellers available.

November 28, 2019 / 12:25 PM IST
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Autoline Industries share price was locked in 10 percent upper circuit in the afternoon trade on November 28 after it signed an agreement with Kinetic Green for e-cycles.

The auto component maker and Kinetic Green Energy and Power Solutions Limited, Pune, signed an agreement for joint development and nationwide marketing of electric bicycles.

Autoline will undertake the development and manufacturing of the e-cycle critical assemblies.

Autoline Industries, in association with Kinetic, has successfully developed the first two models with R&D effort over the last 18 months.

There were pending buy orders of 12,985 shares, with no sellers available.

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The company will utilise its own capabilities and existing capacity to manufacture the cycle and hence no fresh investment is required for the product launch, at this stage.

The e-cycles will be built at the Pune plant on the “Make in India” principal.

At 1208 hours, Autoline Industries was quoting at Rs 28.60, up Rs 2.60, or 10 percent, on the BSE.
Moneycontrol News
first published: Nov 28, 2019 12:25 pm

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