Penny stock under Rs 100 jumps after announcing strategic joint venture with KORES Group

Kranti Industries Limited, a BSE-listed autocomponent and precision engineering company, has announced a strategic joint venture with the Kores Group to establish a new, state-of-the-art greenfield precision machining facility in Halol, Gujarat. The new entity, named KRAKO Precision Private Limited, will focus on the machining of critical casting components for automotive and general engineering applications, marking a significant milestone in Kranti's expansion and commitment to manufacturing excellence.

The collaboration is structured with the Kores Group holding a 65 per cent equity stake and Kranti Industries Limited holding 35 per cent. This partnership is designed to leverage the combined technical expertise, operational efficiency, and innovation of both companies to deliver superior engineering solutions. The Halol location was chosen for its position as a key industrial hub, offering world-class infrastructure and easy access to OEM (Original Equipment Manufacturer) clusters and Logistics networks across Western India.

KRAKO Precision will initially operate as a dedicated machining unit, primarily catering to the Kores Group's substantial casting requirements, while also actively exploring opportunities within the broader engineering and automotive sectors. The facility is set to feature advanced CNC and automation-enabled equipment to ensure the highest standards of precision, quality, and scalability.

About the Company

Established in 1981 and headquartered in Pune, the BSE-listed Kranti Industries Limited (KIL) specialises in manufacturing precision components for the automotive, agricultural, Construction equipment, and electric vehicle sectors. With over four decades of engineering expertise, KIL serves leading OEMs and Tier-1 suppliers globally from its three IATF 16949:2016 certified manufacturing units in Pune, which are equipped with advanced multi-axis and CNC machining centres to drive its focus on manufacturing excellence, innovation, and diversification toward Vision 2030.

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Talking about the financials, Kranti Industries has a market cap of over Rs 100 crore. According to the shareholding pattern, the promoters of the company own a 61.93 per cent stake in the company and the rest of the 38.07 per cent stake is owned by the public with a total of 3,167 shareholders as of June 2025.

On Monday, shares of Kranti Industries Ltd jumped 3.8 per cent to Rs 86.26 per share from its previous closing of Rs 83.11 per share. The stock is up by 46.2 per cent from its 52-week low of Rs 59 per share.

Disclaimer: The article is for informational purposes only and not investment advice.