New Delhi, Sept. 17 -- Shares of Pavna Industries jumped 8.10% to Rs.43.70 apiece in the second-half trading session on Wednesday, September 17, after the company, in its exchange filing, said that it signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to set up a state-of-the-art auto-components manufacturing facility at the Future Mobility Park in Shoolagiri, Krishnagiri District, Tamil Nadu.

"The proposed facility will further enhance Pavna Industries' manufacturing footprint, strengthen its position in the automotive ecosystem, and contribute to the state's vision of advancing as a hub for future mobility solutions," the company said in its Wednesday's regulatory filing.

Commenting on the development, Mr. Sw...