Shares of this automobile component manufacturing company jumped around 5 percent in Tuesday’s trading session after the well-known mutual fund house purchased 14.40 lakh shares in the company. The shares have delivered more than 80 percent returns to its shareholders in one year.
With a market capitalisation of Rs. 4,363 crores, the shares of Pricol Ltd started Tuesday’s trading session on a higher note at Rs. 348.20 compared to its previous close of Rs. 343.15. The shares hit a high of Rs. 362, gaining around 5 percent and currently trading at Rs. 358.15 apiece.
According to NSE bulk deal data, the well-known mutual fund investment company Franklin Templeton has bought 14,40,922 shares in the company equivalent to 1.94 percent of paid-up equity, at Rs. 347 per share indicating a slight discount of 1.21 percent compared to its previous close.
Coming onto the company’s financial statement, the revenue increased by 3 percent from Rs. 537 crores during the June quarter to Rs. 578 crores in the September quarter. In addition, the net profits increased marginally by 3 percent from Rs. 32 crores to Rs. 33 crores during the same timeframe.
Pricol Ltd gets revenue from multiple sources, primarily from driver information and connected vehicle solutions which contribute 65 percent of the revenue and the remaining 35 percent of revenue comes from ACFMS Division.
The company has planned a Capex of about Rs. 600 crores to enhance capacities, improve productivity, and modernize plants. Furthermore, the company has already signed MoUs with BMS PowerSafe, Sibros, and TYW for future collaborations and revenue generation.
Headquartered in Coimbatore, Pricol Ltd started was incorporated in 2011. The company is engaged in the business of manufacturing and selling instrument clusters and other allied automobile components to OEMs and replacement markets.
Written By Vaibhav Patil
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