Talbros Automotive is currently trading at Rs. 39.00, up by 0.65 points or 1.69% from its previous closing of Rs. 38.35 on the BSE.
The scrip opened at Rs. 38.85 and has touched a high and low of Rs. 39.90 and Rs. 38.85 respectively.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 80.40 on 03-May-2011 and a 52 week low of Rs. 36.05 on 16-Nov-2011.
Last one week high and low of the scrip stood at Rs. 43.35 and Rs. 36.05 respectively. The current market cap of the company is Rs. 47.35 crore.
The promoters holding in the company stood at 44.59% while Institutions and Non-Institutions held 9.57% and 45.84% respectively.
Talbros Automotive Components (TACL), India’s largest gasket manufacturer, and Magneti Marelli (MM), a 5.4 billion global automotive systems and components supplier, through its subsidiary company Sistemi Sospensioni S.p.A, signed agreements on November 16, 2011, for formation of a 50:50 joint venture (JV) to undertake the business of suspension systems and modules.
The JV is expected to be operational by April 2012, and TACL shall transfer its existing stamping business to this JV, after obtaining shareholder approval.
JV will start its operations in Faridabad, Haryana, and will manufacture various components including control arms, knuckles, front axles and rear axles for automobile applications. It will also have the capability to design and manufacture entire suspension systems for the OEMs. Additional manufacturing facilities across India would be evaluated in near future.
Magneti Marelli will support the JV with its design and technology know-how referred to a full spectrum of suspension components and modules, allowing the JV to offer in the Indian market the most advanced light-weight solutions in line with carmakers’ requirements for emission compliance.
Sistemi Sospensioni S.p.A is a wholly owned subsidiary of Magneti Marelli. Magneti Marelli designs and produces advanced systems and components for the automotive industry. Its business areas include: Electronic Systems, Lighting, Powertrain, Suspension systems, and Shock absorbers Exhaust systems, Aftermarket Parts & Services, Plastic Components and Modules, Motorsport.
Talbros Automotive Components the flagship manufacturing company of the Talbros Group was established in the year 1956 to manufacture Automotive and Industrial Gaskets in collaboration with Coopers Payen of UK, now Federal Mogul Sealing Systems (Slough)UK. Their research and development Centres showcase their design capabilities including endurance, static and simulated environment testing. Today, their manufacturing prowess spans over 6 business and 12 facilities.
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