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Shares of DCM Shriram surge after its subsidiary inks deal with Inventure Metal

20 September 20232 mins read by Angel One
DCM Shriram’s Fenesta and Inventure Metal Products Industries LLC partnership represents a turning point in Fenesta's quest for superiority in the Facade industry.
Shares of DCM Shriram surge after its subsidiary inks deal with Inventure Metal
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Arm of DCM Shriram Fenesta and Inventure Metal Products Industries LLC, a well-known provider of comprehensive facade-building solutions in the construction sector in the United Arab Emirates (UAE), have formed a strategic technological partnership. The partnership represents a turning point in Fenesta’s quest for superiority in the Facade industry. With 18 years of experience in the facades industry and an impressive portfolio of more than 2,000 successfully completed projects, Inventure brings a wealth of knowledge to the table. Prestigious builders like Emaar, Shapoorji Pallonji, Miraj, Kingston, and others have sought their assistance. Notably, Inventure is a great partner because they are experts at providing high-quality façade products for high buildings.

The fenestration market enters a new era of knowledge and creativity as a result of this progress. As part of this deal, Inventure will offer thorough technical expertise including facade design, production, and installation. Officials from Fenesta will get technical training on crucial facets of the Facade industry from Inventure in addition to information transfer. Offering cutting-edge solutions to its devoted clientele, the two organisations are on a mission to revolutionise the facade industry.

DCM Shriram runs two businesses, energy-intensive and an agriculture business. The company is also the third largest manufacturer of Chlor-Alkali in India. They have launched a value-added UPVC window system business under the Fenesta TM brand in India.

DCM Shriram is currently trading at Rs 1048.80, down by 3.80 points or 0.48% from its previous closing of Rs 1045 on the BSE. The scrip opened at Rs 1030.05 and touched a high and low of Rs 1050 and Rs 1027.45 respectively. So far 7047 shares have been traded on the counter.

The BSE group ‘A’ stock of face value of Rs 2 has touched a 52-week high of Rs 1121.65 and a 52-week low of Rs 730.05. Last one week high and low of the scrip stood at Rs 1091.15 and Rs 965.90, respectively. The current market cap of the company is Rs 16142.37 crore. The promoters holding in the company stood at 66.52%, while Institutions and Non-Institutions held 11.28% and 22.20%, respectively.

Disclaimer: This blog 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.

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