India's SPR Auto Tech rises as Motilal Oswal starts coverage with 'buy'

SPR Auto Technologies

25/09/2026 05:12

** Shares of India's SPR Auto Technologies SPRU.NS rise 1.71% to 4,603.90 rupees
** Motilal Oswal initiates coverage with "buy" and PT of 6,150 rupees, implying 37% upside from its reference price of 4,494 rupees
** Brokerage expects co's profit to grow at 21% CAGR through FY29, driven by a stable standalone business and rapid scale-up of subsidiaries
** Says acquisitions, including Antolin and TGPEL, which contribute about 35% of revenue, are reducing co's dependence on powertrain-focused products
** Adds acquisitions have expanded co's estimated content per vehicle by about 6x, while giving it greater exposure to products used across both conventional and electric vehicles
** Brokerage says co's core piston business has over 45% market share and could gain further as global players exit the internal-combustion-engine segment
** YTD stock up 42.14%

 (Reporting by Surbhi Misra in Bengaluru)
 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))