Autoline Industries Hits Five-Month High After Order Win From Tata Motors
The stock rose as much as 12.89% during the day to Rs 148 apiece on the NSE.
Shares of Autoline Industries Ltd. surged nearly 13% on Wednesday to the highest in over five months after it bagged an order worth Rs 204 crore from Tata Motors Passenger Vehicles Ltd.
The auto ancillary company will be manufacturing tools, and supply sheet-metal parts and assemblies. The contract includes Rs 147 crore annually for parts and a one-time order of Rs 57 crore for tooling, according to an exchange filing.
The contract is to be executed by the third quarter of the current financial year, it said.
On the NSE, Autoline's stock rose as much as 12.89% during the day to Rs 148 apiece, the highest since Feb. 26, 2024. It was trading 8.71% higher at Rs 143 per share, compared to a 0.29% advance in the benchmark Nifty at 11:19 a.m.
The share price has risen 76.09% in the last 12 months and 9.34% on a year-to-date basis. The total traded volume so far in the day stood at 8.6 times its 30-day average. The relative strength index was at 66.87. No analyst is tracking the stock.
