Multibagger auto stock bags new order worth Rs 30 crore from Tata Motors for winches – details inside!

The stock gave multibagger returns of 340 per cent in just 1 year, 560 per cent in 3 years and a whopping 4,460 per cent in a decade.

Remsons Industries Ltd, a pioneer in cables & shifters for the automotive industry has bagged the fourth order from Tata Motors for the supply of winches used for spare wheels. The company is currently supplying winches to successful models like Tigor, Altroz and Punch and a recent order was 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, representing the fourth order received by Tata Motors for winches.

Remsons has emerged as a leading player in the market, providing top-notch winch solutions. Remsons offers a diverse range of winch products known for their reliability and durability. These winches are designed to withstand heavy loads and harsh conditions, making them ideal for various OEM and other applications.

Remsons Industries Ltd., a leading automotive component manufacturer for the past 50 years, supplies parts for two, three, and four-wheeler vehicles, commercial vehicles, and off-highway vehicles across India. They also export to global OEMs. Headquartered in Mumbai, Remsons boasts state-of-the-art facilities throughout India and the UK.

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Their mission is to use cutting-edge technology and expertise to continuously improve their products, positively impacting stakeholders, the environment, and society. Remsons’ expertise goes beyond just manufacturing – they supply a wide range of high-quality control cables, gear shifters, pedal boxes, winches, and jacks to both domestic and international OEMs. Further demonstrating their commitment to growth and innovation, Remsons has formed strategic joint ventures in tyre mobility, infotainment systems, and sensors with Aircom Group, Daiichi Infotainment Systems, and Uni-Automation respectively.

The company has a market cap of over Rs 600 crore. The stock gave multibagger returns of 340 per cent in just 1 year, 560 per cent in 3 years and a whopping 4,460 per cent in a decade. Investors should keep an eye on this auto stock.

Disclaimer: The article is for informational purposes only and not investment advice.