India's Varroc Engineering rises after contract win

Varroc Engineering

04/02/2026 04:17

** Shares of Varroc Engineering VARE.NS rise as much as 5.1% to 608.8 rupees
** The automotive component maker gets contract for wall charger with a global electric vehicle OEM
** Adds that deal expected to span six years, estimated annual business value at peak capacity is 4.39 billion rupees ($48.5 million)
** Mean rating of stock is "hold"; their median PT is 600 rupees - data compiled by LSEG
** VARE stock gained 0.3% in 2025

($1 = 90.4475 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)

 ((meenakshi.maidas@thomsonreuters.com;))