Arvind has entered into joint venture with Adient. The company in a release stated, “Adient and Arvind announced the formation of Adient Arvind Automotive Fabrics, a joint venture that will develop, manufacture and sell automotive fabrics in India.”

Adient Arvind Automotive Fabrics will be located at Ahemdabad, India, and manufacture high-end performance fabrics for automotive seating systems at a world-class fabric manufacturing facility. Adient has 50.5% stake in the JV company, which makes it the major stakeholder.

Further, Punit Lalbhai, Executive Director, Arvind stated, “We are transforming our business quickly through technologies and partnerships that enable us to explore and create new opportunities across our business divisions.”

Read EquityPandit’s Technical Analysis of Indian Stock Market