The company caters to almost all major OEMs by supplying over 1,500 products for the passenger cars & commercial vehicles segment along with other non-auto segments. 

Comparing the net profit for the first quarter of FY23 to the same quarter last year, it increased significantly by 170 per cent from Rs 0.30 crore to Rs 0.81 crore.    

Since the first of July, stockholders of the company have seen a return of about 50 per cent. The current price-to-earnings ratio for the stock is 24.54.

Interestingly, the step has been taken for a total list of 479 stocks, of which, the circuit limit of 195 stocks have been revised from existing 10 per cent to 20 per cent including

A corporate action is a publicly-declared event by a firm that affects its shareholders, either directly or indirectly. 

The idea is that people will spend less if borrowing money or carrying a balance on a credit card costs more.

The company also intends to develop its own website, sell on other e-commerce platforms, open stores for speedy delivery, and tie up with other vendors along with offline & online marketing to increase its revenue through the use of new technology

The share surged 12 per cent on the day.

The funds raised through the issue will be used for repayment or pre-payment of a portion of certain outstanding borrowings availed by the company and its subsidiaries as well as for other general corporate purposes.   

On Friday, Indian equity markets ended on a flat note. Nifty 50 closed the last trading session of the week at 17,314.6 in the red territory, marginally down by 0.10 per cent. Top gainers of the index were Titan, Power Grid Corporation, ONGC, IndusInd Bank and Grasim.