Automotive Axles shines on planning to acquire stake in Suryaurja One

21 Jan 2022 Evaluate

Automotive Axles is currently trading at Rs. 1600.45, up by 69.10 points or 4.51% from its previous closing of Rs. 1531.35 on the BSE.

The scrip opened at Rs. 1528.40 and has touched a high and low of Rs. 1617.80 and Rs. 1525.00 respectively. So far 1782 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1650.00 on 3-Jan-2022 and a 52 week low of Rs. 945.00 on 23-Apr-2021.

Last one week high and low of the scrip stood at Rs. 1624.45 and Rs. 1510.00 respectively. The current market cap of the company is Rs. 2418.60 crore.

The promoters holding in the company stood at 71.04%, while Institutions and Non-Institutions held 14.93% and 14.03% respectively.

Automotive Axles is planning to acquire equity shares in ‘Suryaurja One’. Suryaurja One is engaged in solar power generation. As a strategic investment, the company will acquire 12,00,000 number of equity shares at a price of Rs 10 per share.

This investment is for the company to avail solar power from Suryaurja One for its units situated at Hootagalli Industrial Area, Mysore, Karnataka. Indicative time period for completion of the acquisition on or before May 31,2022.

Automotive Axles is India’s largest independent manufacturer of commercial truck axles for a broad range of vehicle applications.

Auto.Axle Share Price

1784.25 -5.15 (-0.29%)
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