Autoline Industries Limited has received offer from Tata Motors Ltd. to setup a facility at Sanand, Gujarat to cater with the automobile parts to Tata Motors. The Board of Directors of the Company at its meeting held on Thursday, June 1, 2023, has considered the offer and approved the setting up of a new plant (unit) on the leased hold plot (to be allotted by Gujarat Industrial Corporation) at Sanand, Gujrat to expand the business and retain the existing business with OEM.
The investment of INR 50 Crore (approximately) for producing automobile parts for 240000 nos. of vehicles per annum will be met through own funds and loan.
The company expects the order size to be Rs. 120 Crore for FY 2024-25 which will scale up to Rs. 200 Crore p.a. for FY 2025-26 and onwards.
Shares of Autoline Industries Limited was last trading in BSE at Rs. 64.60 as compared to the previous close of Rs. 65.00. The total number of shares traded during the day was 5273 in over 152 trades.
The stock hit an intraday high of Rs. 65.70 and intraday low of 64.50. The net turnover during the day was Rs. 342310.00.