Subros hits record high after reopens Manesar plant

 

Subros Ltd's Noida plant

Subros Ltd's Noida plant

 

  Subros moved higher to its record high of Rs 219, up 12% on BSE in intra-day trade, after the company announced that it has reopened its Manesar plant after a major fire accident in May 2016.

Subros manufactures and supplies automotive air conditioning systems (AAS) and fan motor assemblies with the technology developed by its collaborators, Denso Corp and Suzuki Motors, both from Japan.

Subros caters to the OEM segment with clients such as Maruti (for its 800cc, 1000cc and 1300cc models, Gypsy and its latest Wagon R and Alto), Tata Motors and PAL.

Besides its plant at Manesar, Subros has manufacturing units at Noida, Pune, Chennai and Sanand with an annual capacity of 1.5 million AC Kits per annum. It also has a well equipped R&D Centre and Tool Room at Noida.

At 02:45 pm; the stock was up 10% at Rs 215 on BSE as compared to 0.28% rise in the S&P BSE Sensex. A combined 507,462 shares changed hands on the counter on BSE and NSE so far.

In past one year, it zoomed 140% against 17% gain in the benchmark index.