Epack Durable shares surged to a 5% upper circuit after reports revealed Hisense Group, China’s largest television manufacturer, is set to acquire up to 26% equity in Epack’s newly formed subsidiary, Epack Manufacturing Technologies.
The subsidiary is developing a cutting-edge production facility in Sri City, Andhra Pradesh, to produce air conditioners, refrigerators, washing machines, and small appliances under the Hisense brand. The partnership aims to boost Hisense’s presence in India and enhance export opportunities.
Ajay DD Singhania, Managing Director of Epack Durable, confirmed ongoing discussions and outlined plans for a component vendor park in the region, requiring 80-100 acres of land.
Epack Durable shares opened at ₹501.65, matching their intraday high and low. The stock remains close to its 52-week high of ₹515.00, significantly above the 52-week low of ₹150.60.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
