Fiem Industries was on a roll yesterday, hitting a new high at Rs.416 and today, though it has come off yesterday’s high, it remains strongly in the green, up 2% at Rs.414 levels.

The stock is in the news after it had announced yesterday that it had purchased land, 7.65 acres,  for setting-up a new factory in Ahmedabad, Gujarat. The land is at strategic location near upcoming factory of the Company's esteemed customer Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI).

In this new Plant the company will be manufacturing and supplying Automotive Lighting & Signaling Equipments, Rear View Mirrors as well as Plastic Molded Parts to upcoming factory of the Company's esteemed customer HMSI in Gujarat.