Shares of Remsons Industries are in focus today after the auto components firm said it bagged multiple orders from Tata Motors for supply of winches used for spare wheels. This is the fourth order from Tata Motors for the supply of winches used for spare wheel. Remsons Industries is currently supplying winches to successful models like Tigor, Altroz and Punch. The latest order is 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.
Remsons Industries shares closed flat at Rs 927.75 on April 16 against the previous close of Rs 931.30 on BSE.
The auto parts stock opened lower at Rs 927.75 on Tuesday.
Remsons Industries shares have risen 329.12% in a year and gained 100% in six months.
A total of 11 shares of the firm changed hands, amounting to a turnover of Rs 0.10 lakh on BSE. Market cap of the company fell to Rs 622.13 crore on BSE.
The stock fell to a 52-week low of Rs 197.15 on May 9, 2023 and rose to a 52 week high of Rs 1,104.95 on March 2, 2024.
In terms of technicals, the relative strength index (RSI) of Remsons Industries stands at 48.3, signaling it's trading neither in the overbought nor in the oversold zone. The stock trades higher than the 50 day, 100 day, 150 day, 200 day and lower than the 5 day, 10 day and 30 day moving averages.
Amit Srivastava, Group CEO, Remsons Industries said, “By providing a wide selection of winches, we ensure that businesses can find the perfect solution for their specific needs and be a valuable partner in their journey. With the help of UK acquisition, Remsons was able to add various goods such as winches, jacks and pedal boxes. We are in the process of introducing them to our customers, who will be able to benefit from global technology produced in India.”
Remsons Industries Ltd. is an automotive OEM components manufacturer supplying to two, three and four wheeler vehicles, commercial vehicles and off highway vehicles all over India and automotive OEM’s globally since last 50 years. Headquartered in Mumbai, Remsons has state of the art facilities in Gurgaon, Pune, Pardi and Daman in India, & Stourport in UK.