Omax Autos is currently trading at its upper circuit limit of Rs. 153.90, up by 7.30 points or 4.98% from its previous closing of Rs. 146.60 on the BSE.
The scrip opened at Rs. 153.90 and has touched a high and low of Rs. 153.90 and Rs. 148.55 respectively.
The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 215.90 on 29-Jan-2018 and a 52 week low of Rs. 62.10 on 28-Sep-2017.
Last one week high and low of the scrip stood at Rs. 162.90 and Rs. 135.00 respectively. The current market cap of the company is Rs. 329.16 crore.
The promoters holding in the company stood at 54.59%, while Institutions and Non-Institutions held 3.87% and 41.54% respectively.
Omax Autos has approved the proposal for diversification and expansion of existing capacity for manufacturing products and equipment supplied to railways. The company has existing manufacturing capacity of around 4,800 tonnes per annum of steel into various parts and equipment required by the railways.
In this regard, the company will invest Rs 100 crore to Rs 120 crore in phases and the proposed capacity addition is to be done in next 2-3 years. The company will fund the said proposed expansion by realisation from disposal of existing surplus assets, internal accruals and external borrowings.
Omax Autos manufactures a range of components for automobiles ranging from two-wheelers, three-wheelers, Off-Highway, passenger cars, commercial vehicles and railways.
