Shares of Shivalik Bimetal Controls traded marginally lower early on November 30 after the company signed a contract with Metalor Technologies International to set up a joint venture for making electrical contacts.
At 9:27am, Shivalik Bimetal Controls was quoting at Rs 536.00, down Rs 4.05, or 0.75 percent, on the BSE.
This strategic collaboration aims to enhance Shivalik's manufacturing capability for producing electrical contacts by partnering with a renowned global leader, according to a statement from the company.
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Metalor Technologies International SA, headquartered in Switzerland is a member of the Tanaka group of Japan and a global leader in Precious Metals.
Shivalik Bimetal Controls, through its wholly owned subsidiary (Shivalik Engineered Products Private Ltd), is an established player in the Indian market producing electrical contact assemblies with modern joining methods and a world-class tooling infrastructure based in Solan, Himachal Pradesh.
The company's net profit increased 6 percent to Rs 26.37 crore and revenue from operations jumped 7.18 percent to Rs 112.40 crore in the quarter ended September 2023.
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