Hanung Toys signs Export Order tie-up for Euro 108 Million (Rs 600 Crores)

Hanung Toys & Textiles Ltd has announced that the Company has signed export order tie-up with IKEA Sweden, for exporting soft toys / kids furnishing to the extent of EURO 108 million (Rs 600 Crores). In terms of above agreement, the Company expects the business with said buyer to reach a level of EURO 15 million in 1st year, EURO 23 million in 2nd year, EURO 30 million in 3rd year and EURO 40 million in 4th year from now.

This agreement will bring greater strength and good revenue to the Company.

The stock was trading at Rs.144.15, up by Rs.9.50 or 7.06%. The stock hit an intraday high of Rs.151.90 and low of Rs.136.50. The total traded quantity was 841464 compared to 2 week average of 166583.

Source : Equity Bulls

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