22 Oct 2024

EPACK Durable Hits Upper Circuit After Agreement with Hisense

EPACK Durable’s stock surged to its upper circuit limit of Rs. 407.60 on the BSE, rising by 5% or 19.40 points from its previous close of Rs. 388.20.

The stock opened and remained at Rs. 407.60 throughout the trading session, with 1037 shares exchanged. The scrip belongs to the BSE group 'T' and has a face value of Rs. 10. It reached its 52-week high of Rs. 434.00 on 3rd October 2024, and a low of Rs. 150.95 on 28th March 2024. Over the past week, it fluctuated between Rs. 422.80 and Rs. 376.60. The company’s current market capitalization stands at Rs. 3725.47 crore.

Promoters hold a 48.14% stake in EPACK Durable, with Institutions and Non-Institutions holding 16.73% and 35.12% respectively.

EPACK Durable has announced a manufacturing partnership with Hisense International Singapore Holding through a soon-to-be-incorporated subsidiary. The collaboration will focus on producing air conditioners and home appliances for Hisense, whose 2023 revenue was approximately $1 billion. EPACK Durable specializes as an Original Design Manufacturer (ODM) of room air conditioners.