The shares of one of India’s leading auto components manufacturer jumped up to 7 percent in the day’s trade after receiving an annual order from Mahindra & Mahindra worth Rs 30 crore
Price Action
With a market capitalization of Rs 365.28 crore, Autoline Industries Ltd. surged 6.3 percent in Wednesday’s trading session and made a high of Rs 94.90 per share compared to its previous closing price of Rs 89.25 per share. The stock retraced from its day’s high and was trading at Rs 93.50 which is 5 percent higher than the previous closing price.
What Happened
Autoline Industries Limited has secured a significant order from Mahindra & Mahindra for critical components of the Scorpio and XUV 3XO models. The order is expected to generate Rs 30 Crores annually.
The company’s Industry 4.0-enabled Pune facility, equipped with data-driven technology and advanced automation ensures high precision and efficiency, strengthening its position in the automotive sector.
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Management Commentary
Mr. Shivaji Akhade, Managing Director of Autoline Industries, commented, “We are confident that this collaboration with M&M will further enhance our partnership and unlock new opportunities. As Autoline continues its path of growth through customer diversification and innovation, this achievement exemplifies our commitment to creating value for customers, stakeholders, and employees.”
Company Overview
Autoline Industries Limited is a Pune-based auto components manufacturer serving both domestic and international OEMs. It is one of the biggest metal sheet producers in India, specializing in sheet metal components, assemblies, and subassemblies for passenger cars, commercial vehicles, and other sectors.
The company operates over 10 manufacturing facilities and boasts in-house design and engineering expertise, allowing it to produce a wide variety of products, such as foot control modules, parking brakes, hinges, exhaust systems, and tubular structures. Major OEMs like Ashok Leyland, Daimler, Cummins, HD Hyundai, Mahindra, and Tata Motors are served by Autoline.
Written by Shwetha Sairam
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