Automotiv Axles rises on inking pact with Meritor HVS (India)
Automotive Axles is currently trading at Rs. 1620.00, up by 15.80 points or 0.98% from its previous closing of Rs. 1604.20 on the BSE.
The scrip opened at Rs. 1611.65 and has touched a high and low of Rs. 1629.15 and Rs. 1604.20 respectively. So far 346 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 2210.00 on 08-Jul-2024 and a 52 week low of Rs. 1533.40 on 17-Mar-2025.
Last one week high and low of the scrip stood at Rs. 1742.20 and Rs. 1591.15 respectively. The current market cap of the company is Rs. 2448.14 crore.
The promoters holding in the company stood at 71.04%, while Institutions and Non-Institutions held 13.47% and 15.49% respectively.
Automotive Axles has entered into a services agreement with Meritor HVS (India) (MHVSIL). Under the services agreement, MHVSIL has agreed to provide certain marketing, business development, engineering and product development, product technology, account management and relationship, program management related services to the company in relation to the products manufactured by the company.
This enables the company to strengthen its customer base by utilizing the technical expertise/information and specialized services provided by MHVSIL. The company’s board had approved the same in their meeting held on March 20, 2025.
Automotive Axles (AAL) is a joint venture of Kalyani Group and Meritor Inc., USA. The company manufactures drive axles, non-drive axles, front steer axles, specialty & defence axles and drum & disc brakes.
