Autoline Industries is currently trading at Rs. 66.35, up by 2.15 points or 3.35% from its previous closing of Rs. 64.20 on the BSE.
The scrip opened at Rs. 66.00 and has touched a high and low of Rs. 69.85 and Rs. 65.00 respectively. So far 7973 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 127.00 on 05-Jan-2018 and a 52 week low of Rs. 47.00 on 11-Dec-2018.
Last one week high and low of the scrip stood at Rs. 69.85 and Rs. 59.70 respectively. The current market cap of the company is Rs. 138.60 crore.
The promoters holding in the company stood at 32.36%, while the Non-Institutions held 67.64% stake in the company.
Autoline Industries has entered into Memorandum of Understanding (MOU) with Poddar Habitat to transfer land at Chakan, Pune. The company will utilize the sale proceeds to settle the debt that has a charge on the immovable property and reduce overall debt exposure of the company.
The company believes that the consolidation of facilities will accrue substantial operational efficiency, cost savings, add to better working capital management and smoothening of supply chain management by utilizing the available resources in Chakan Unit.
Autoline Industries is engaged in the manufacturing of various auto parts/sheet metal components for passenger cars, sports utility vehicles (SUV), commercial vehicles, two-wheelers, three-wheelers, tractors, etc. The company is also exporting auto parts i.e. brake shoes for Mercedes Benz trailers to Saudi Arabia, Dubai, etc.
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