Vijay Kedia buys nearly 2% stake in Talbros Auto; stock zooms 32% in 2 days

Shares of Talbros Automotive Components hit a record high of Rs 372.80 after they rallied 11 per cent on the National Stock Exchange (NSE) in Wednesday's intra-day trade after investor Vijay Kedia bought nearly 2 per cent stake in the company via open market on Tuesday.

The stock of the auto parts & equipment company has zoomed 32 per cent in the past two trading days. It surpassed its previous high of Rs 356.75 touched on August 3, 2021.

At 09:22 am, Talbros Automotive was trading 6 per cent higher at Rs 357 on the NSE, as compared to a 1.1-per cent rise in the Nifty50. A combined 186,000 equity shares had changed hands on the counter on the NSE and BSE till the time of writing of this report.

On Tuesday, November 30, 2021, Vijay Kishanlal Kedia purchased 205,524 shares, representing 1.66 per cent stake, in Talbros Automotive via bulk deals on the NSE. He bought 215,524 shares at price of Rs 337.48, while sold 10,000 shares at Rs 339.70 on the NSE, the exchange data shows. The names of the corresponding buyers and sellers could not be ascertained immediately.

Talbros Automotive Components, the flagship manufacturing company of the Talbros Group, was established in the year 1956 to manufacture Automotive & Industrial Gaskets in collaboration with Coopers Payen of UK. The company has technical collaborations with Nippon Leakless Corporation – Japan and Sanwa Packaging – Japan.

Few of the marquee customers includes Bajaj Auto, Tata Cummins, Volvo Eicher India, Ashok Leyland, Escorts Group, Force Motors, Hero MotoCorp, Honda, Hyundai, John Deere, Mahindra & Mahindra, Maruti Suzuki, Suzuki, TAFE, Daimler India, Tata Motors, Simpsons, Carraro, Dana, Musashi, Spicer, GE and QH Tallbros besides a robust distribution network in the aftermarket.