Fiem Industries has signed a Memorandum of Understanding (MoU) with Aisan Industry, Japan for joint working to explore and gain the business of 'Canister' for Indian two-wheeler market and manufacturing by the company with the technical support of Aisan Industry. Canister is an Emission Control System Product, which will have huge market in India due to implementation of stricter emission norms for two-wheelers.

As per the amended Central Motor Vehicle Rules, 'Mass Emission Standard (Bharat State IV) shall come into force for two-wheelers manufactured on and after Apr.01, 2016 for new type of vehicle models and from Apr. 01, 2017 for existing types of vehicle models.

Shares of the company gained Rs 12.75, or 2.12%, to trade at Rs 614.50 at the BSE (Monday).