Shares of Autoline Industries were seen trading higher by 10% on Wednesday, marking a significant uptick in the stock’s performance. The total volume traded on the NSE surged by nearly 9 times compared to the 30-day average volume of 5.84 lakh shares. This impressive movement has propelled the stock to be up by 10% in 2024 so far, reflecting investor confidence and market enthusiasm.
In a notable development, Tata Motors Passenger Vehicle Limited has entered into an order/contract with Autoline Industries Limited. The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015. The contract entails the manufacturing of tools and the supply of sheet metal parts and assemblies, which are integral to Tata Motors’ operations.
Awarding Entity: Tata Motors Passenger Vehicle Ltd.
Purpose: Ordinary course of business
Terms and Conditions: The contract involves the manufacturing and supply of sheet metal parts and assemblies.
Nature of Contract:Tool manufacturing, stamping, and supply of parts
Execution Timeline: Standard Operating Procedure (SOP) in Q3 FY25, with a ramp-up in August 2025
Financial Details: The contract size is Rs. 147 crore annually for parts and Rs. 57 crore for tooling (one-time order).
Autoline, a medium-sized auto engineering firm, crafts sheet metal components, subassemblies, and assorted parts for top-tier automotive OEMs, including Foot Control Modules, Parking brakes, Hinges, cab stay and tilt, Exhaust systems, Tubular structures, Prototyping Fabrications.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Jul 31, 2024, 3:39 PM IST
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