Subros surged 17.05% to Rs 368 at 14:48 IST on BSE after the company said it has started supply of blower application to truck makers from 1 January 2018 as per schedule.
The announcement was made during market hours today, 5 January 2018.Meanwhile, the S&P BSE Sensex was up 162.10 points or 0.48% at 34,131.74. The S&P BSE Small-Cap index advanced 0.94%, outperforming the Sensex.
On the BSE, 99,000 shares were traded on the counter so far as against average daily volumes of 18,855 shares in the past one quarter. The stock had hit a high of Rs 373 so far during the day, which is a record high. The stock hit a low of Rs 319.50 so far during the day. The stock had hit a 52-week low of Rs 161 on 9 January 2017.
The stock had outperformed the market over the past one month till 4 January 2018, gaining 22.91% compared with the Sensex's 3.35% rise. The stock had also outperformed the market over the past one quarter, advancing 31.44% as against the Sensex's 7.26% rise. The scrip had also outperformed the market over the past one year, surging 90.78% as against the Sensex's 27.55% rise.
The small-cap company has equity capital of Rs 12 crore. Face value per share is Rs 2.
Subros said it has started supply of blower application to its customers (truck makers) from 1 January 2018 as per schedule. While majority of the customers have opted for blower application in truck as per the notifications issued by the Ministry of State for Road Transport and Highways, but few customers have chosen for air-conditioning fitment as an optional action.
During the past year, Subros has intimated its investors and stakeholders about the impact of notification(s) issued by the Ministry of State for Road Transport and Highways about introduction of blower in truck application for N2 (3.5 to 12 tonnes) and N3 (above 12 tonnes) category trucks. In this regard, the company had also announced that the business from Ashok Leyland, Swaraj Mazda Isuzu, Mahindra Truck and Bus Division and Tata Motors has been tied up.
Subros' net profit surged 209.7% to Rs 15.08 crore on 14.9% growth in net sales to Rs 497.15 crore in Q2 September 2017 over Q2 September 2016.
Subros is an automotive air conditioning systems and thermal products for automotive applications maker. Subros manufactures compressors condensers, heat exchangers and all connecting elements required to complete AC loop and caters to all segments viz. passenger vehicles, buses, trucks, refrigeration transport, & railways.
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