The rally was sparked by Phillip Capital's 'Buy' recommendation on Lumax Auto Technologies Ltd, along with a target price of ₹1,860, implying a 36 per cent upside.
Thus far in the calendar year 2025, the stock price of Lumax Auto Technologies, a smallcap auto components company, has zoomed 132% as against 8% rise in the BSE Sensex.
Shares of Lumax Auto Technologies (₹1,113.90) and Subros (₹1,084) hit their respective new highs, and rallied up to 10% on the BSE in Tuesday's intra-day trade in an otherwise weak market.
Lumax Auto Technologies hit a new high of ₹992.20, rallied 49% in the past one week, after the company reported better than expected earnings for the quarter ended March 2025.
The uptick in the share price came after the company announced the acquisition of a majority stake in Greenfuel Energy Solutions Private Limited (Greenfuel) from its existing shareholders.
The management said the positive momentum is anticipated to continue in current quarter, driven by a rising aspirational demand among consumers for vehicle ownership
The company said it has received information that certain entities are circulating unsolicited / unauthorised SMS / Whatsapp messages regarding the shares / securities of the Company.
IAC India is a well-established Tier-1 interior systems and components supplier to key automotive OEMs in India including Mahindra, Maruti Suzuki, Volkswagen and Volvo Eicher Commercial Vehicles.
The stock hit a new high of Rs 662, up 8% on the BSE in early morning trade, after the company reported 13% growth in net profit at Rs 13.33 crore in September quarter
