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Smallcap stock hit 10% upper circuit after it enters into JV with Shudh Investments

Indian company partners with UK firms to acquire shares in a joint venture, aiming to trade porcelain slabs, tiles, and quartz, expanding its presence in international markets.
Smallcap stock hit 10% upper circuit after it enters into JV with Shudh Investments
Smallcap stock hit 10% upper circuit after it enters into JV with Shudh Investments

Introduction:

Leading Indian company has entered a joint venture with UK-based firms to expand its global presence. The collaboration focuses on trading premium porcelain slabs, tiles, and quartz products, marking a significant step in international market growth.

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Share price movement of Asian Granito:

On December 11, 2024, Asian Granito India Ltd opened at ₹71.08, up 2.01% from its previous close of ₹69.68. The stock reached a high of ₹77.38 (11.04%) and a low of ₹71.08. By 10:01 AM, it traded at ₹76.44, a 9.70% increase, with a market cap of ₹966.18 crore.

Asian Granito expands via JV:

Asian Granito India Limited (AGIL) has entered a Joint Venture Agreement with Shudh Investments Limited and Klyn Stone Limited, UK, to acquire shares in Klyn AGL Limited. The JV aims to trade large porcelain slabs, tiles, and quartz products.

The partnership formalized through a confirmation statement submitted to England & Wales Companies House, confirms AGIL’s shareholder induction in Klyn AGL Limited. The move signifies AGIL’s strategic expansion into international markets with high-demand products.

AGIL received confirmation of the registration on December 9, 2024. The agreement aligns with the company’s growth strategy, leveraging the JV to enhance global trade opportunities and strengthen its foothold in the premium building materials market.

Recent news on Asian Granito:

As of November 16, 2024, Asian Granito India Limited reported a Q2FY25 net profit of ₹4.7 crore, reversing a ₹2.8 crore loss in Q2FY24, with exports rising 26% YoY to ₹77 crore despite revenue and margin declines.

Stock performance of Asian Granito for Period of 1 week, 6 months and 1 year:

Asian Granito India Ltd faced declines across key timeframes, with a 4.88% drop over the past week, 6.82% over six months, and 3.38% over the year, reflecting consistent downward pressure on its stock performance.

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Shareholding pattern of Asian Granito:

All values in %Sep 2024Jun 2024Mar 2024
Promoter29.00%29.00%29.00%
FII2.20%2.70%1.40%
DII0.30%0.40%0.00%
Public68.50%67.90%69.60%
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About Asian Granito:

Asian Granito India Ltd (NSE: ASIANTILES), established in 1995, transitioned from finance to ceramics. It is a leading Indian manufacturer of ceramic tiles, engineered marble, and quartz, renowned globally for its diverse and premium product range.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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