Automotive Axles gained 1.2% to Rs 494 on bargain hunting after the company announced resumption of operations of factories and offices at Mysuru and Rudrapur.
The stock declined 8.41% in just two trading sessions from its previous closing high of Rs 533 posted on 29 April 2020.Automotive Axles after market hours on Monday informed that it has resumed offices and manufacturing locations at Rudrapur (Uttarakhand) from 23 April 2020 and at Mysore (Karnataka) from 4 May 2020 with all precautionary measures including the safe distancing and criteria's as per the government norms.
Automotive Axles manufactures drive axles, non-drive axles, front steer axles, specialty & defence axles and drum & disc brakes. It provides these products to the major domestic and global manufacturers of trucks & buses
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