Moneycontrol
Last Updated : Jan 05, 2018 12:33 PM IST | Source: Moneycontrol.com

Subros hits record high, up 10% as supply of blower application started

Subros manufactures compressors, condensers, heat exchangers and all connecting elements required to complete AC loop and caters to all segments viz. passenger vehicles, buses and trucks.

 
 
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Subros shares hit a fresh record high of Rs 347.20, rising more than 10 percent intraday Friday following the beginning of supply of blower application to truck makers.

"....has started supply of blower application to customers from January 1, 2018 as per schedule," the auto airconditioning systems provider said in its filing.

While majority of the customers have opted for blower application in truck as per the notification but few customers have chosen for air-conditioning fitment as an optional action, it added.

During the past year, Subros intimated its investors and stakeholders about the impact of notification(s) issued by the Ministry of State for Road Transport and Highways about introduction of blower in truck application for N2 (3.5 to 12 tonnes) and N3 (above 12 tonnes) category trucks.

In this regard the company also announced that the businesses from Ashok Leyland, Swaraj Mazda Isuzu, Mahindra Truck and Bus Division and Tata Motors Limited had been tied up.

Subros manufactures compressors, condensers, heat exchangers and all connecting elements required to complete AC loop and caters to all segments viz. passenger vehicles, buses and trucks.

At 12:03 hours IST, the stock price was quoting at Rs 339.15, up Rs 24.75, or 7.87 percent on the BSE.
First Published on Jan 5, 2018 12:33 pm
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