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Finolex Cables Limited ( (IN:FINCABLES) ) has provided an announcement.
Finolex Cables Limited has disclosed that it has provided a corporate guarantee in favor of ICICI Bank Limited on behalf of its joint venture company, Finolex J Power Systems Limited (FJPS), to avail working capital facilities. The guarantee, amounting to Rs. 39.2 crores, is part of a larger Rs. 80 crore facility, with Finolex and its partner Sumitomo Electric Industries Limited sharing the guarantee in proportion to their shareholdings. This move reflects Finolex’s strategic involvement in supporting its joint venture operations, potentially enhancing its market positioning and operational capabilities.
More about Finolex Cables Limited
Finolex Cables Limited operates in the electrical and telecommunication cables industry, primarily focusing on manufacturing and selling a wide range of cables and related products. The company is known for its extensive product line, including electrical cables, communication cables, and other electrical goods, catering to various market segments.
Average Trading Volume: 15,046
Technical Sentiment Signal: Hold
Current Market Cap: 112.9B INR
For detailed information about FINCABLES stock, go to TipRanks’ Stock Analysis page.