Talbros Automotive shares gain over 16% on multiple orders; up 183% in CY23 so far

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₹328.60 apiece after gaining 20% in the previous trading session. This remarkable uptick in shares can be attributed to the company's multiple order wins.

Also Read: Why should you never borrow to invest in the stock market? MintGenie explains On Monday, the company announced that it received new multi-year orders worth ₹580 crore from both domestic and overseas customers across its business divisions, product segments, and JVs. The company will execute these orders over a period of the next 5 years, commencing from FY25 onwards.

The new orders cover the company's product lines: gaskets, heat shields, forgings, chassis, and rubber hoses. "These orders will help the company increase its share with existing customers and new customers across geographies, which will help the company grow and gain market share domestically and in the export market in the coming years.

This also leads to improving margins," the company added. Also Read: Bajaj Auto rallies over 55% in CY23, best yearly performance since 2010 – key reasons Talbros is a diversified auto component player with a presence across automobile categories in passenger vehicles, commercial vehicles, two-wheelers, three-wheelers, agricultural machinery, off-loaders, and industrial vehicles.

Its marquee customers include Bajaj Auto, Tata Cummins, Volvo EicherIndia, 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, and GE. Also Read: 6 stocks listed in November 2022 surged between 50% and 321% over issue prices The shares this year have performed strongly as they rallied from ₹114 apiece to the current value of ₹322.80,