From Rs 52 to Rs 108: This multibagger micro-cap auto ancillary stock doubled in less than four months!
The stock has rallied 16.09 per cent over the last five trading sessions
The shares of Autoline Industries have been on a fast track. The company’s stock had corrected 20 per cent in the first three weeks of June 2022 to record a low of Rs 52.25 per share on NSE. Since then, the scrip has more than doubled.
On Friday, the scrip froze at a 10 per cent upper circuit, touching an all-time high of Rs 108.95 per share on NSE. The stock has rallied 16.09 per cent over the last five trading sessions.
Established in 1996, Autoline Industries Ltd is a prominent Pune-based leading auto components manufacturer & supplier to original equipment manufacturers (OEMs) and automobile companies with a presence in both domestic as well as international markets.
The company caters to almost all major OEMs by supplying over 1,500 products for the passenger cars & commercial vehicles segment along with other non-auto segments.
In Q1FY23, the company continued to witness rising demand across PV and CV segments, resulting in high double-digit growth. The overall volume growth, productivity improvement, and cost-saving measures helped in achieving higher EBITDA margins.
Over the last few quarters, the company expanded its customer base, enhanced its product portfolio by diversifying into e-vehicles & railway business, and has been making efforts to improve operational efficiency as well as cost.
Investors should keep this buzzing multi-bagger micro-cap auto ancillary stock on their radar!