4,400 per cent multibagger returns & promoters decrease stake; Board announces 5:1 stock split; Check record date for eligibility!

The stock gave multibagger returns of 260 per cent in just 1 year, 880 per cent in 5 years and a whopping 4,400 per cent in a decade.

Remsons Industries Ltd informed that the Board of Directors of the company has approved a stock split i.e., sub-division/split of existing Equity Shares of the company from 1 equity share having a face value of Rs 10 each, fully paid, into 5 equity shares having face value of Rs 2 each, fully paid-up, ranking pari-passu in all respects. The company fixed the record date as Friday, July 05, 2024.

Earlier, the company scored another win with Tata Motors. This marks their fourth order to supply winches specifically designed for spare wheels. Remsons already equips popular Tata models like the Tigor, Altroz, and Punch with these winches, and the new deal extends their partnership to the upcoming Tata Nexon CNG, India's first CNG car with a turbocharged engine. This 3-year contract is worth a total of Rs 30 crore, solidifying Remsons' position as a key supplier for Tata Motors. The much-anticipated Nexon CNG is expected to hit the market sometime in the second half of 2024.

Remsons Industries Ltd, founded in 1971, is a leading Indian manufacturer of automotive components like control cables, gear shifters, and parking brakes. They supply parts to over 250 dealers and more than 20 original equipment manufacturers (OEMs) across two, three and four-wheeler vehicles. Some of their notable clients in India include Maruti Suzuki, Hero MotoCorp, Tata Motors, and Mahindra, while their international clientele includes Ford, Jaguar Land Rover, Daimler, and Aston Martin. Remsons boasts a rich history as India's first control cable manufacturer, and with over 15 crore cables produced, they have a strong presence in the market.

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Recognizing the evolving automotive landscape, Remsons is strategically expanding its product offerings to include next-generation technologies, undergoing restructuring for improved efficiency, and aiming to move up the value chain. They're also open to collaborations, joint ventures, and acquisitions to accelerate their growth journey, with a focus on developing an EV-compatible product portfolio.

The promoters of the company sold 9.71 per cent to 65.29 per cent in March 2024 compared to 75 per cent in March 2023. The company has a market cap of over Rs 600 crore. The stock gave multibagger returns of 260 per cent in just 1 year, 880 per cent in 5 years and a whopping 4,400 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.