The company made this announcement before trading hours today, 5 July 2010.

Meanwhile, the BSE Sensex was up 31.55 points, or 0.18% to 17,492.50.

On BSE, 5.06 lakh shares were traded in the counter as against an average daily volume of 1.67 lakh shares in the past one quarter.

The stock hit a high of Rs 175.45 so far during the day, which is a lifetime high for the counter. The stock hit a low of Rs 152.05 so far during the day. The stock had hit a 52-week low of Rs 48.30 on 13 July 2009.

The company's equity capital is Rs 11.96 crore. Face value per share is Rs 10.

The first memorandum of understanding (MoU) is for setting up a joint venture company for manufacturing of automotive lighting & signaling equipments for catering to four-wheeler business in Northern and Eastern India.

The second MoU is for forming a strategic global "Fiem-Ichikoh Alliance" for acquiring two-wheeler automotive lighting business in worldwide market. Under this alliance, Fiem Industries and Ichikoh Industries will tap global two-wheeler automotive lighting business by strategic use of core competencies, manufacturing facilities, technical expertise and sales network of both the companies.

Fiem Industries' net profit jumped 2278.6% to Rs 3.33 crore on 51.3% surge in net sales to Rs 86.96 crore in Q4 March 2010 over Q4 March 2009.