Fiem Ind to get sparkle on land allotment

Shares of Fiem Industries are expected to react positively in the coming days as the company has purchased 7.65 acres of land in Ahmedabad to set up a new plant. The plant, to be strategically positioned near the upcoming factory of Honda Motorcycle & Scooter India Private Limited, will manufacture and supply automotive lighting and signalling equipment, rear-view mirrors and plastic moulded parts. The company reported a net profit of ₹10.28 crore on total revenue of ₹188.11 crore.