Talbros Automative Shares Surge 19% To A Record After Rs 580 Crore Order Win
Along with a market share gain in both domestic and the export, the orders will also help in improving margin, it said.
Shares of Talbros Automative Components Ltd. surged over 19% to a record high on Monday after it received multi-year orders worth Rs 580 crore from domestic and overseas customers.
Commencing the next financial year, these orders are to be executed over the five years covering gaskets, heat shields, forgings, chassis and rubber hoses, according to an exchange filing.
Along with a market share gain in both domestic and the export market, the orders will also help the company in improving margin, it said.
Talbros' stock rose as much as 19.23% during the day to Rs 279.90 apiece on the NSE. It pared gains to trade 14.3% higher at Rs 268.35 apiece compared to a 0.08% decline in the benchmark NSE Nifty 50 as of 10:16 a.m.
It has risen 136.43% on a year-to-date basis. The total traded volume so far in the day stood at 11 times its 30-day average. The relative strength index was at 68.9.