Subros zooms on developing indigenous thermal EV solution for Hydrogen Cell Bus
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Subros is currently trading at Rs. 436.05, up by 24.60 points or 5.98% from its previous closing of Rs. 411.45 on the BSE.
The scrip opened at Rs. 411.60 and has touched a high and low of Rs. 463.00 and Rs. 406.00 respectively. So far 68806 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 521.40 on 21-Jun-2023 and a 52 week low of Rs. 272.00 on 27-Feb-2023.
Last one week high and low of the scrip stood at Rs. 463.00 and Rs. 372.10 respectively. The current market cap of the company is Rs. 2655.10 crore.
The promoters holding in the company stood at 36.79%, while Institutions and Non-Institutions held 45.05% and 18.16% respectively.
Subros has developed its Electric Air-conditioning system with an Integrated Battery Management system for Hydrogen Cell Bus application. Subros R&D Engineers have developed this solution entirely in-house in terms of the Company's initiative to ‘Design in India’ and ‘Make in India’. This system has also been installed in one of the OEM's bus for testing purposes. The company is a key player in the bus air-conditioning systems and with this product/system, the whole gamut of air conditioning solution(s) for buses with internal combustion engine (ICE), electric vehicles (EV) and Hydrogen Cell (HC) is complete and the Company has an ambitious expansion strategy for this vertical.
Subros, founded in 1985 as a joint venture public limited company with 36.79% ownership by Suri family of India and 20% ownership by Denso Corporation, Japan & 11.96% ownership by Suzuki Motor Corporation, Japan, is the leading manufacturer of thermal products for automotive applications in India, in technical collaboration with Denso.
