Maximus International Limited’s shares were up by 3.15 per cent after the company, together with its subsidiary Quantum Lubricants EA Ltd, initiated an expansion effort in Africa. The company also announced the appointment of Kenya-based J Shrinika Limited as the exclusive distributor for its premier line of lubricants and allied products in Uganda, Tanzania, and Rwanda.
With this appointment, the company anticipates its East African business to cross the Rs 100-crore revenue milestone within two years.
The shares were up by 3.15 per cent to Rs 16.68 at 12.30 pm on the BSE.