Amber Enterprises | Stock Updates

Shares of Amber Enterprises surge as its subsidiary invests in Italian rail vehicle manufacturer

Shivaliks, JV of Sidwal Refrigeration, acquires a 34.59% stake in Titagarh Firema SpA to expand capabilities and access new markets.

About the Acquisition
India’s rail sector gears up for growth as Amber Enterprises’ subsidiary, Shivaliks Mercantile Private Limited, invests in Titagarh Firema SpA, an Italian high-tech rail vehicle manufacturer. This strategic move underscores India’s ambitions in the global mobility space and its focus on strengthening domestic capabilities. Shivaliks, a joint venture of Sidwal Refrigeration, has acquired a 34.59% stake in Firema for Euro 20.21 million (Rs180 crore).

This investment, alongside Italian government involvement through Invitalia, aims to expand capabilities and capacities for manufacturing diverse rail vehicles in India and internationally.

Firema is an associate company of Titagarh Rail Systems Limited (TRSL), Sidwal’s JV partner, fostering deeper collaboration within the Indian rail industry. Firema designs and manufactures passenger vehicles (subways, trains, intercity trains) and freight vehicles in Italy. The total Income of the company stands at (Euro 19.56 million) in FY23, Firema boasts a turnover of Euro 50.28 million and a steady track record of growth.

India’s Shivaliks, Firema, and TRSL are partnering to expand their rail vehicle portfolio and technological capabilities. The partnership will broaden the available options for Indian and international markets, boosting India’s rail manufacturing capabilities. The partnership also offers access to new markets, particularly in Europe.

The collaboration, supported by the government, will strengthen India’s manufacturing prowess and its international mobility reach, showcasing India’s commitment to modernization and expansion in the rail sector.

Share Price Movement
The shares of Amber Enterprises are currently trading at Rs 3,997.55 up by 44.10 points or 1.12% as compared to the previous day’s closing of Rs 3,953.45. Today, the share opened at Rs 3,955.55 and touched intraday highs and lows of Rs 4,044.15 and 3,955.55 respectively. The share has a 52-week high and 52-week low of Rs 4,615.20 and 1,762.25, respectively.

About the Company
Amber Enterprises India is a market leader in the room air conditioner (RAC) original equipment manufacturer/original design manufacturer industry in India, with a 55.4% market share in Fiscal 2017. The company focuses on continuously upgrading technology and manufacturing processes through its R&D efforts. With a dedicated R&D centre in Rajpura, Amber has successfully designed and developed a portfolio of wide-ranging RACs and components.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.