Pritika Auto expands export footprint with US$ 2 million order

The shares of Pritika Auto Industries were trading in green on Tuesday when the company informed the bourses that it had received an additional export order for machined castings from US-based conglomerate. The said order is in addition to the existing order which was received in September 2019, taking the total value of the order to US$ 2 million from this foreign client.

Commenting on the development, Harpreet S. Nibber, Managing Director of Pritika Auto Industries Limited stated that the large export order from existing customer helped to expand its footprint in US market. He further stated that the company's export portfolio would comprise of innovative products which are likely to result in improved profitability for the company.

Pritika Auto Industries Limited is a metal casting, forging and machining company. It is engaged in manufacturing, assembling and distributing processors, forgers, converters, fabricators and assemblers. The company is also an importer and exporter of metal alloys, castings, automobile parts, machine tools, tractor parts and various other types of machinery.

Towards the close of Tuesday’s session, the stock was trading at Rs 102.35, up by 3.80 per cent or Rs 3.75 per share. The 52-week high is recorded at Rs 169.50 and the 52-week low is Rs 67.15 on BSE.