Auto Ancillary stock engaged in the business of manufacturing and selling steering systems and many more with customers such as Tata, Mahindra and Toyota jumped 6 percent in the day’s trade after it received an order worth Rs. 182 Crores.
At 11:12 a.m the shares of JTEKT India Limited were trading at Rs. 140, up 5.66 percent from its previous day’s close price of Rs. 132.50, and its market capitalization is Rs. 3,419 Crores.
JTEKT India Limited has received a new order worth Rs. 182.7 Crores from its holding company JTEKT Brasil Ltda for the supply of loose parts to be used in its final assembly of a product.
The supply of goods under the respective purchase order (PO) issued by JTEKT Brasil to the company shall be for a duration starting from the date of issuance of the Purchase order and shall expire on the delivery time scheduled, Jtekt India said in its release.
It has operations across India through its 6 Plants and its clientele consists of famous automobile manufacturers such as Maruti Suzuki, Toyota, Tata Motors, Mahindra & Mahindra, Isuzu Motors, Honda, and Renault Nissan.
It has reported a return on equity (ROE) of 13.06 percent and a return on capital employed (ROCE) of 16.3 percent, it is making good Returns on its equity and capital employed as its profitability ratios are increasing.
The company’s revenue from operations grew 28.65 percent from Rs. 1,588.8 Crores in FY22 to Rs. 2,043.93 Crores in FY23, accompanied by increasing profits of Rs. 36.91 Crores to Rs. 81.37 Crores.
JTEKT India Limited is engaged in the business of manufacturing steering systems and other auto components for passenger car and utility vehicle manufacturers in the automobile sector.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
