Remsons Industries gains on bagging order worth Rs 30 crore from Tata Motors
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Remsons Industries is currently trading at Rs. 945.00, up by 17.25 points or 1.86% from its previous closing of Rs. 927.75 on the BSE.
The scrip opened at Rs. 965.00 and has touched a high and low of Rs. 965.00 and Rs. 945.00 respectively. So far 152 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 1104.95 on 02-Mar-2024 and a 52 week low of Rs. 197.15 on 09-May-2023.
Last one week high and low of the scrip stood at Rs. 966.95 and Rs. 898.70 respectively. The current market cap of the company is Rs. 662.70 crore.
The promoters holding in the company stood at 75.00%, while Non-Institutions held 25.00% in the company.
Remsons Industries has bagged the fourth order from Tata Motors for the supply of winches used for spare wheel. The company is currently supplying winches to successful models like Tigor, Altroz and Punch and the recent order is received for its new model Tata Nexon CNG. The total size of all the orders stands at Rs 30 crore which will be executed over three years.
Tata Motors showcased the Nexon iCNG, India's first car with a turbocharged CNG powertrain, at the Bharat Mobility Global Expo 2024. The SUV is expected to be launched in the second half of 2024. This marks a significant achievement for Remsons Industries, as it represents the fourth order received by Tata Motors for winches.
Remsons Industries is an OEM Manufacturer supplying to two, three, four wheelers all over India and exports globally.
