Talbros Auto hits new high

Talbros Auto, which had closed yesterday at Rs.339.45, opened 9% higher at Rs.369.95 and went on to hit a new 52-week high at Rs.388.35. Volumes are up over 3-times.

The stock price is on a roll on news that investor Vijay Kedia bought 1.66% stake yesterday in the company via open market.

Kedia bought 215,524 shares at price of Rs 337.48, while sold 10,000 shares at Rs 339.70 on the NSE.

This auto parts & equipment company has almost all the auto OEMs as its customers and financially has been on a strong wicket. It ended Q2FY22 with a consolidated net profit of Rs.11 crore, up 11% (YoY) on a 33% rise in net sales at Rs.144 crore. EBITDA rose 20% at Rs.20 crore.