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Hot Pursuit News

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(08 Apr 2024, 10:58)

Amber Ent jumps after arm signs JV agreement with 3 companies

Amber Enterprises India rallied 3.66% to Rs 3885 after the firm’s wholly owned subsidiary, AT Railway Sub Systems signed Joint venture (JV) agreement with Yujin Machinery, Sinkodia Pte, Dujin International to form joint venture company.

AT Railway Sub Systems Private (AT Railway), a wholly owned subsidiary of Sidwal Refrigeration Industries Private which is wholly owned material subsidiary of the company.

The company will form JV to design, manufacture and develop driving gears, couplers and pantographs for rolling stock, including high-speed and metro trains, regional rapid transit systems, Vande Bharat trains, wagons, trams, and other Indian Railway products, wherein AT railway will have a majority stake in the joint venture.

This is in line with the Amber Group’s consistent strategy of increasing the wallet share per coach. Sidwal, an 100% holding company of AT Railway, is one of the leading company in the manufacturing of HVAC, Pantry, Doors and Gangways for Rolling Stock. With the addition of driving gears, c...

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