Subros hits a new high

Subros is on loud buzz today; from its close of Rs.450.70, it opened 16% higher at Rs.524 and went on to hit a new 52-week high at Rs.530, up 17.5%.

The stock hit a high after the company reported having received a Rs.25 crore order from the Indian Railways.

This order is for supply and commissioning of coach roof-mounted air-conditioners, in line with its aim to expand business in railway electric mobility segment.

The company is already a supplier of rail driver cabin air-conditioning systems to the railways.

Subros is a JV between the Suri family which holds 36.79% stake, Suzuki Motor which has a 11.96% stake and Denso Corporation with a 20% stake. The company makes thermal products for automotive applications in India.