Craftsman Automation rallies 6%, hits 8-month high on improved outlook

The company expects sustained improvement in business performance over the medium term driven by the recovery in offtake from automobile sector.

Shares of Craftsman Automation (CAL) hit an eight-month high of Rs 2,524, as the stock rallied 6 per cent on the BSE in Friday’s intra-day trade on improved business outlook.

The stock of auto ancillary company traded at its highest level since November 2021. It had hit a record high of Rs 2,772.80 on November 1. The company had made a stock market debut on March 25, 2021.

CAL manufactures several components and sub-assemblies on supply and job-work basis according to client specifications in the automotive, industrial and engineering segments. The key products in the automotive segment include