Auto Ancillary

EVs, ancillary industries may see Rs 3.4 trn investment by 2030: Colliers

Domestic and foreign firms have announced a whopping Rs 3.4 lakh crore investment in India's electrical vehicles (EVs) and ancillary industries over the next six years, Colliers India on Wednesday said while expressing concern over "tardy progress" towards achieving the goal of 30 per cent electric mobility by 2030 Real estate consultant Colliers India on Wednesday released a report 'EVs in India: Renewed Vigour in Electric Mobility', highlighting that an overall EV penetration rate in India stood at 8 per cent. It estimated sales of around 2 million (20 lakh) EVs in 2024. "Although the pace of EV adoption in the country has been commendable, it has not been as brisk as anticipated," the consultant pointed out. The report mentioned that individual companies across the EV landscape have announced plans to invest USD 40 billion (Rs 3,40,000 crore) in a phased manner till 2030. Out of this, USD 27 billion is planned for lithium-ion battery manufacturing and USD 9 billion for OE (Origin

This Vijay Kedia portfolio stock surged 18% today; zoomed 105% in 4 months

Vijay Kedia portfolio stocks: Ace investor Vijay Kedia held 2.10 per cent or 2 million shares in PCL as on September 30, 2024, shareholding pattern data shows

Weak auto sales, rising costs may hit ancillary cos in near-term: Analysts

High valuations, cautious sentiment challenge PV and commercial vehicle firms

Samvardhana Motherson target price, earnings estimate raised. Details here

Samvardhana Motherson share: Samvardhana Motherson is emerging as the key beneficiary of the growing popularity of electric vehicles (EVs) and the rising trend of premiumisation across segments

This auto ancillary stock surged 14% on Monday on healthy outlook

Shares of Gabriel India recovered 27 per cent from their recent lows. They had tanked 37 per cent from the 52-week high level of Rs 440, touched on December 6, 2023

Sumitomo Wiring divests 4.4% stake in Samvardhana Motherson for Rs 3,633 cr

Japan's Sumitomo Wiring Systems on Wednesday divested a 4.4 per cent stake in Samvardhana Motherson International Ltd for Rs 3,633 crore through open market transactions. Sumitomo Wiring Systems (SWS) is one of the promoter entities in Samvardhana Motherson International Ltd (SAMIL). According to the bulk deal data available with the National Stock Exchange (NSE), Sumitomo Wiring Systems sold a total of 30 crore shares, amounting to a 4.43 per cent stake in SAMIL. The shares were offloaded within the price range of Rs 121.03-121.25 apiece, taking the combined deal value to Rs 3,633.20 crore. After the stake sale, the shareholding of SWS has declined to 9.72 per cent from 14.15 per cent in the company. The combined shareholding of the promoters and promoter group entities has declined to 60.35 per cent stake in Samvardhana Motherson International from 64.78 per cent. As of December 2023, SWS and its wholly-owned subsidiary HK Wiring Systems Ltd (HKWS) jointly held a 14.32 per cent

Tolins Tyres files draft papers with Sebi to raise Rs 230 cr through IPO

Tolins Tyres Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 230 crore through an initial public offering (IPO). The Kerala-based company's initial share-sale is a combination of fresh issue of equity shares worth Rs 200 crore and an offer-for-sale (OFS) of equity shares to the tune of Rs 30 crore, according to the draft red herring prospectus (DRHP) filed on Friday. Promoters -- Kalamparambil Varkey Tolin and Jerin Tolin-- will offload shares worth Rs 15 crore each through the OFS route. They own 83.31 per cent stake in the company at present. The company may consider raising Rs 25 crore in a Pre-IPO placement round. If such placement is undertaken, the fresh issue size will be reduced. Of the Rs 200 crore IPO proceeds, Rs 75 crore will be used to augment long-term working capital requirements of the company and Rs 62.55 crore for payment of debt. Further, Rs 24.36 crore will be used for investment in the company's subsidiary, Tolin Rubbers Privat

Amara Raja Q2 profit up 13% to Rs 226 cr as demand offsets higher costs

BENGALURU (Reuters) - India's Amara Raja Energy & Mobility on Tuesday reported a jump in second-quarter profit, as improved demand for its products helped offset higher expenses.

Auto component makers stepping up investments in green mobility business

In FY23, e-two-wheeler (E2W) penetration jumped to 4.5 per cent from 1.9 per cent in FY22, data released by the Federation of Automobile Dealers Associations shows

Sundaram Fasteners registers Rs 5,000 crore consolidated revenue in FY23

Auto-components manufacturer Sundaram Fasteners on Friday announced crossing consolidated revenue of Rs 5,000 crore and a net profit of Rs 500 crore for the financial year ended March 31, 2023. Its domestic and overseas subsidiaries have registered a good performance during the year, the company said in a release. "The company's consolidated revenue from operations posted for the year ended March 31, 2023 was at Rs 5,662.75 crore as against Rs 4,902.06 crore during the same period in the previous year, recording a growth of 15.52 per cent," it said. Similarly, the consolidated net profit for the year was Rs 500.35 crore, as against Rs 461.83 crore recorded during the same period in the previous year. Domestic sales recorded a 22.95 per cent growth on the back of increased demand. "Despite the headwinds in global markets, the export sales for the year ended March 31, 2023 were at Rs 1,528.95 crore as against Rs 1,421.09 crores during the previous year," the company added. The comp

Tyre stocks on a roll; Apollo Tyres hits record high, Ceat 52-week high

The raw material (RM) and other input costs have started softening after a long spell of unprecedented increase, which is likely to improve margins in the medium term for tyre companies

Lumax Ind freezes at 20% upper circuit on strong Q2 results, capex plan

The board has approved the company's plan to set up new manufacturing unit in Chakan, Pune to cater to the orders received from OEMs

Atul Auto soars 14%; board issues 5 mn warrants to ace investor Vijay Kedia

The board approved issuance of up to 5.81 mn convertible warrants at Rs 198 per share to promoters and non-promoters including ace investor Vijay Kedia

Are auto ancillaries a favorable bet as commodity costs ease?

While majority of auto ancillary companies reported a margin squeeze in the June-quarter of FY23, analysts expect turnaround from the second half of the year as commodity prices ease. Here's a report

Auto ancillary sector's FY23 revenue expected to grow at 10-15% YoY

Domestic auto ancillary sector's revenue is expected to grow at 10-15 per cent year-on-year (YoY) in FY23.

Auto ancillary stocks in radar on hopes of fresh demand from OEMs

Shares of companies dealing in auto ancillaries have seen a firm uptick recently as their business outlook seems to have turned bright on hopes of rapid adoption of electric vehicles.

Minda Corp, Pricol: These auto ancillary stocks may be the next big movers

Auto ancillary stocks may jump up to 15 per cent in upcoming sessions

Near-term volume, margin headwinds for Motherson Sumi

Supply disruptions have led to downward revision of earnings estimates for FY22

Sona BLW surges 18% on strong Q1 results, healthy order book position

In Q1FY22, Ebitda margin improved to 27.7 per cent from 19 per cent in Q1FY21 due to better product mix and operating leverage

Rolex Rings makes strong debut, lists at 39% premium over issue price

Rolex Rings listed at Rs 1,250 as against issue price of Rs 900 per share on the NSE