Talbros Automotive soars 27% in 2 days as Vijay Kedia increases stake

Vijay Kedia acquired 2.27 per cent stake, while Sanjay Dugar bought 1.09 per cent stake in Talbros Automotive in the December quarter

Shares of Talbros Automotive Components rallied 13 per cent to register a new life-time high at Rs 498.35, on the BSE in Wednesday’s intra-day trade backed by heavy volumes. In the past two trading sessions, the stock of auto parts & equipment firm has surged 27 per cent after data revealed that high networth individual investors bought a more than 2 per cent stake in the company during October-December quarter (Q3FY22) via open market.

At 10:14 am; Talbros Automotive Components was up 8 per cent, as compared to 0.24 per cent rise in the S&P BSE Sensex. The trading volumes at the counter jumped nearly five-fold with a combined around 625,000 equity shares changing hands on the NSE and BSE.

Since November 24, in the last six weeks, the stock price of auto ancillary company has zoomed 81 per cent after ace investor Vijay Kedia bought nearly 2 per cent stake in the company via open market.

On November 30, 2021, Vijay Kishanlal Kedia purchased 205,524 shares, representing 1.66 per cent stake, in Talbros Automotive via bulk deals on the NSE. He bought 215,524 shares at price of Rs 337.48, while sold 10,000 shares at Rs 339.70 on the NSE, the exchange data showed.

According to shareholding pattern data for the quarter ended Q3FY22 filed by Talbros Automotive reveals that, Vijay Kedia held 2.27 per cent stake in the company. Sanjay Dugar, other investor, bought 135,000 shares or 1.09 per cent stake in the company during the quarter. He held NIL or below one per cent stake in Talbros Auto at the end of September 2021 quarter (Q2FY22), data showed.

Individual shareholders, who held capital up to Rs 2 lakh, have seen their stake in the company decline to 26.24 per cent in Q3 from 29.44 per cent in Q2.

Talbros Automotive Components, the flagship manufacturing company of the Talbros Group, was established in the year 1956 to manufacture Automotive & Industrial Gaskets in collaboration with Coopers Payen of UK. The company has technical collaborations with Nippon Leakless Corporation – Japan and Sanwa Packaging – Japan.

Few of the marquee customers includes Bajaj Auto, Tata Cummins, Volvo Eicher India, Ashok Leyland, Escorts Group, Force Motors, Hero MotoCorp, Honda, Hyundai, John Deere, Mahindra & Mahindra, Maruti Suzuki, Suzuki, TAFE, Daimler India, Tata Motors, Simpsons, Carraro, Dana, Musashi, Spicer, GE and QH Tallbros besides a robust distribution network in the aftermarket.

Marelli Talbros is working on new RFQ’s for several Indian and Global OEM’s for supporting development of future electric vehicles (EV’s). Marelli Talbros Supplies Critical Suspension Components to EV’s.