The Amber Enterprises share price jumped 3% in the intraday trade following the announcement of its partnership with Oppo Mobiles India. Under the scope of collaboration, the Gurugram-headquartered firm will manufacture mobile phones for Oppo which operates brands like OnePlus and Realme.
Amber Enterprises-Oppo: Partnership details
As a part of this collaboration, Amber Group will produce mobile phones for Oppo brands using its technical know-how, operational capabilities and local supply chain strengths, the company said in its filing.
“The collaboration is expected to create opportunities for operational synergies and reinforce Amber’s position as a preferred entity for B2B manufacturing,” the company said in its press release.
It noted that both the companies are also likely to explore additional opportunities for future collaboration.
Speaking on the development, Jasbir Singh, Executive Chairman & CEO, Amber Enterprises India said: “We are excited for this manufacturing collaboration with OPPO India. This collaboration underscores our manufacturing capabilities and our ability to support globally recognized brands with quality, reliability, value addition and scale.”
Ernst & Young (EY) acted as the exclusive financial advisor. AZB & Partners and Aekom Legal acted as legal advisors.
Amber Enterprises share price
Amber Enterprise’s share price touched an intraday high of Rs 8,218 on the circuit today, while its intraday low was posted at Rs 7,703.50.
In the intraday session Amber’s stock was down more than 1%. Over the past one month its share price has increased by 11%, while so far this year it has delivered a return of nearly 22%.
About the company
Amber Enterprises: It is an Indian contract manufacturer primarily engaged in the business of developing consumer durable goods. The company’s core business also comprises electronic manufacturing services and design of railway subsystems and defense.
Oppo: It is a Chinese electronics manufacturing firm. The company is primarily engaged in the business of manufacturing smartphones, and its product portfolio also includes power banks, smart devices, audio devices etc.