PCBL soars to 52-week high after signing a deal with Kinaltek

PCBL Share Price: Shares of PCBL Ltd touched the 52-week high of Rs 270.80 on BSE on Thursday (November 30) after the carbon manufacturer firm entered into a joint venture with Kinaltek Pty limited.

The stock of PCBL was trading higher by 1.52 per cent, or Rs 4.05 per cent, at Rs 270.40 each, at 10:40 am on  Thursday. 

What is PCBL-Kinaltek deal 

PCBL on Wednesday said that was signing an agreement with Kinaltek Pty limited (Kinaltek).

"The Company shall own 51% of the shareholding in the joint venture company (JV Company), and shall be infusing a consideration of USD 16,000,000 in the JV Company and a commitment to infuse funds up to USD 28,000,000 in stages in the JV Company, for setting up a manufacturing facility (“Proposed Transaction”)," said PCBL in a statement.