Ashapura Minechem’s stock soared 6% after its overseas subsidiary signed a long-term Memorandum of Understanding (MoU) with China Railway, a Fortune Global 500 company. The partnership aims to develop the Fako bauxite deposit in Kindia, Guinea.
Under the MoU, China Railway will oversee bauxite production and logistics, while Ashapura will handle sales, marketing, and technical support, including quality assurance.
Ashapura Minechem’s shares opened at ₹556, reaching a 52-week high of ₹559.70, with a low of ₹535 during the session. This marks a significant surge from its 52-week low of ₹200.45, reflecting strong investor confidence.
This project is expected to transform the underdeveloped Fako region by creating jobs, boosting economic growth, and enhancing the lives of local communities. Additionally, it will significantly expand Ashapura’s production capacity and strengthen its global market position.
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