Automotive Axles surges 8%, hits record high on healthy business outlook

The company is a beneficiary of the current cyclical recovery in the domestic commercial vehicle space, especially the medium & heavy commercial vehicle (M&HCV) domain.

Shares of Automotive Axles hit a record high of Rs 1,874.75, on ralliying 8 per cent on the BSE in Monday’s trade on healthy business outlook. The stock of the auto ancillary company has surged 18 per cent in the past two trading days. It surpassed previous high of Rs 1,829.50 touched on June 3, 2022. In comparison, the S&P BSE Sensex was down 0.20 per cent at 52,804 points at 10:27 am.

Automotive Axles is a beneficiary of the current cyclical recovery in the domestic commercial vehicle space, especially the medium & heavy commercial vehicle (M&HCV) domain. It