India's Subros hits record high on order mandating AC in select commercial vehicles

Subros

14/12/2023 07:28

** Shares of thermal products maker Subros  SUBR.NS  up 3.6%
at a record high of 544.45 rupees
    ** Stock up more than 20% this week after Indian govt's
notification mandating installation of air conditioning (AC)
systems in select commercial vehicle cabins
    ** Mandatory installation of AC in commercial vehicles will
boost revenue and improve margins for Subros, analysts at Nirmal
Bang said in a note after attending an analyst meet hosted by
the co
    ** Subros adds that it could outpace industry growth by 2-3%
on the back of product diversification and increasing market
share of sports utility and electric vehicles
    ** Stock sees its busiest week; more than 8.4 mln shares
have changed hands so far this week 
    ** Stock up more than 80% YTD, set for its best year since
2017 when it rose ~90% 
    

 (Reporitng by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))