TALBROS AUTOMOTIVE SHARES STUCK IN UPPER CIRCUIT ON RS 1,000-CRORE ORDER WIN
Shares of Talbros Automotive Components Limited (TACL) were stuck in the upper circuit of 5% in early deals today after the firm announced order win from a large European OEM for a multi-year contract valued at approximately Rs 1,000 crore.
Talbros Automotive shares opened 5% higehr at Rs 293.30 against the previous close of Rs 279.35 on BSE. Later, the stock was stock in the upeer circuit of 5%. Total 1972 shares of the firm changed hands amounting to a turnover of Rs 5.78 lakh in Thursday's trade. Market cap of the firm rose to Rs 1810 crore on BSE.
The order will be executed over the next 8 years commencing from Q4FY25. The order win is by TACL's Joint Venture Company, Marelli Talbros Chassis Systems Private Limited (MTCS). The order is centered on the supply of Suspension Arms tailored for both conventional Internal Combustion Engine (ICE) vehicles and new age Electric Vehicle (EV) platforms for EMEA and NAFTA regions.
The production for the same would be done from the Pune plant of MTCS for which a capex investment of Rs 65 crore is envisaged in FY25. The investments will be done through internal accruals and debt. This order adds a new customer for TACL group in Europe, which is a highly specialized market for automotive components. This will further improve the market share in Europe and open new avenues of growth with existing and new OEMs in the region.
2024-04-18T04:47:40Z dg43tfdfdgfd