MMT has bagged order for control arms supply to Maruti Suzuki for their upcoming new launch S-Cross SX4.
Shares of Talbros Automotive Components surged 11 percent on securing orders from Maruti Suzuki India and ISUZU Motors India. It received orders under its joint ventures Magneti Marelli Talbros Chassis Systems (MMT) and Talbros Marugo Rubber (TMR).
MMT has bagged order for control arms supply to Maruti Suzuki for their upcoming new launch S-Cross SX4. The order to TMR is for stabiliser bush, hose intercooler inlet and outlet, muffler hanger and suspension bush across multiple models of Maruti and air intake hose of ISUZU Motors.
MMT is a 50:50 joint venture with Magnetti Marelli SPA, a Fiat Group company while TMR is a 50:50 joint venture with Marugo Rubber Industries, Japan (a global leader in anti-vibration products and hoses).
At 14:50 hours IST, the scrip of Talbros Automotive Components was quoting at Rs 139.00, up Rs 7.30, or 5.54 percent.
Posted by Sunil Shankar Matkar