[Market Focus] Korea Precision Machinery Soars to Upper Limit on 32.6 Billion Won Supply Contract with Indian Company

Korea Precision Machinery hit the upper price limit in early trading on January 15. The surge in buying interest appears to be driven by news of a supply contract worth 32.6 billion won signed with an Indian company.

As of 9:42 a.m. on the same day, shares of Korea Precision Machinery on the KOSDAQ market were trading at 3,975 won, up 29.90% from the previous session. The stock immediately hit the upper price limit at market open.

After the market closed the previous day, Korea Precision Machinery announced that it had signed a supply contract for vertical turning lathes (VTL Machines) worth 32.6 billion won with Powerstatic Solutions India Private Limited, its local subsidiary in India. This contract represents 51.1% of the company's recent sales, and the contract period runs until June 10, 2027.

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