Subros is locked at upper circuit limit at Rs. 51.75, up by 2.45 points or 4.97% from its previous closing of Rs. 49.30 on the BSE.
The scrip opened at Rs. 51.00 and has touched a high and low of Rs. 51.75 and Rs. 50.20 respectively. So far 20,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 57.60 on 26-Jun-2014 and a 52 week low of Rs. 18.25 on 10-Sep-2013.
Last one week high and low of the scrip stood at Rs. 52.10 and Rs. 47.55 respectively. The current market cap of the company is Rs. 310.00 crore.
The promoters holding in the company stood at 40.01 % while Institutions and Non-Institutions held 1.00 % and 59.00 % respectively.
Subros has entered into a Memorandum of Understanding (MoU) with Denso Corporation Japan wherein Denso intends to entrust production Engine Cooling Module and Global Standard Radiator in India to Subros. The location of entrustment production would be at Subros Manesar plant.
The start of production is intended December, 2015. It has an annual sales potential of Rs 200 crore approximately and will entail an additional investment of approximately Rs 48 crore spread over next 3 years.
Subros has grown from a capacity of 15,000 AC units in 1985 comprising of largely an assembly operation, into the largest and only integrated manufacturing unit in India for Auto Air Conditioning systems. The company has the capability to manufacture compressors, condensers, heat exchangers and all the connecting elements that are required to complete the AC Loop.
