India's Talbros Auto gains most in over a week on positive growth outlook

Talbros Automotive Components

11/01/2023 07:22

** Shares of Talbros Automotive  TALB.NS  rise as much as
3.74%, most intraday gains in over a week since Dec. 30, 2022,
to 554.4 rupees per share
    ** The rise in the auto ancillary firm's stock comes after
Phillip Capital identifies it as a potential beneficiary of
revival in automotive industry post slowdown over the last three
to four years
    ** Strong order book, product expansion, strong joint
venture tie-ups, customer additions and wallet share gains from
existing clients augur well for the stock, says Phillip Capital,
after a recent interaction with management 
    ** The domestic brokerage firm adds that the expanding
product basket will aid long-term business opportunity
    ** So far in FY2023, TALB has received multi-year orders
worth over 10 bln rupees
    ** The company targets to grow at 15-20% CAGR (compounded
annual growth rate) over next three to four years
    ** Trading volume is 33,454 as of 12:40 p.m. IST, 0.3x the
30-day average of 1,49,254 shares
 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; Mobile:
+919769003463))