NDR Auto Components moves up on getting nod to set up project of seat insert fabric
NDR Auto Components is currently trading at Rs. 777.55, up by 5.80 points or 0.75% from its previous closing of Rs. 771.75 on the BSE.
The scrip opened at Rs. 787.20 and has touched a high and low of Rs. 796.10 and Rs. 723.80 respectively. So far 2159 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1040.50 on 25-Sep-2024 and a 52 week low of Rs. 337.08 on 14-Feb-2024.
Last one week high and low of the scrip stood at Rs. 805.30 and Rs. 723.80 respectively. The current market cap of the company is Rs. 1832.90 crore.
The promoters holding in the company stood at 73.06%, while Non-Institutions held 26.94% stake in the company.
NDR Auto Components has received approval for setting up of a project of seat insert fabric for four wheelers. For this purpose, the Company has entered into a memorandum of understanding (MoU) with Toyota Tsusho India (TTIPL) and Toyotsu Vehitecs Co., (TVC) and the Company will be obtaining technical assistance from TTIPL. The said project will be set up at Gurgaon for an investment of around Rs 21.89 crore in the next two financial years through a wholly owned subsidiary which will be incorporated in the next two months.
The company has also received approval to incorporate a 100% subsidiary for setting up of project of seat insert fabric. The Board of Directors of the Company at its meeting held on February 11, 2025 has approved the same.
NDR Auto Components is primarily engaged in the manufacturing, fabricating and assembling of every kind of automotive components including seats, spare parts and components for the seats and to deal in each and every kind of activity associated with the manufacture and trading of any kind of components, whether directly or indirectly or whether in India or abroad.
