Ask Automotive gains after board OKs for JV with T.D. Holding

Ask Automotive added 2.93% to Rs 516 after its board approved entering into a joint venture with T.D. Holding GMBH (TDH) to manufacture, market, and sell sunroof control cables and helix cables for passenger vehicles through a joint venture company.

The joint venture company will be incorporated following the execution of the joint venture agreement (JVA). The company will hold a 49% equity stake in the JV Co. and will infuse funds upto Rs 2.45 crore in one or more tranches. Of this 49 lakh will be invested at the time of incorporation. The remaining 51% stake in joint venture company will be held by TDH.

Ask Automotive is the largest manufacturer of brake shoes and advanced braking systems for two wheelers in India. The company has diversified its operations and offers products inder advanced braking systems, aluminium light weighting precision solutions and safety control cables business segments.

The companys consolidated net profit jumped 20.6% to Rs 57.61 crore on 8.6% increase in net sales to Rs 849.67 crore in Q4 FY25 over Q4 FY24.

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