Late evening yesterday, Omax Auto announced that it has sold the remaining 51% stake in its subsidiary Gmax Auto. Naturally, post this Gmax is no longer a subsidiary of Omax.  It sold the stake to AG Industries, which had earlier bought 49% stake.

Omax Autos specializes in sheet metal components, tubular components and machined components. With a turnover of Rs.1,100 crore in fiscal 2014, it features in the top 10 automotive component manufacturers in India.

The stock is doing very well today, hitting an intra day high at Rs.93.50, up over 13.5% and just 50 paise lower than its 52-week high of Rs.94.