JTEKT India rises on capacity expansion plans

Jtekt India

29/02/2024 04:25

** Shares of auto parts maker JTEKT India  JTEK.NS  up 7.9%,
its steepest rise since April 
    ** Co has approved capacity expansion of its constant
velocity joint lines - used in vehicles to allow rotation in
shafts
    ** Stock has been trading above its 200-day simple moving
average since October, volumes 3.5 times the 30-day avg  
    ** Co on track to log losses of over 2% in Feb, after
gaining for three straight months
    ** Its ~5% gains in 2023 was outpaced by ~29% rise in bigger
rival Bosch  BOSH.NS  

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))