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13-Sep2017

Atul Auto catches speed on inking pact with Greaves Cotton

Atul Auto is currently trading at Rs. 497.15, up by 12.50 points or 2.58% from its previous closing of Rs. 484.65 on the BSE.

The scrip opened at Rs. 490.00 and has touched a high and low of Rs. 506.60 and Rs. 488.20 respectively. So far 10554 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 512.00 on 01-Nov-2016 and a 52 week low of Rs. 389.85 on 30-Jun-2017.

Last one week high and low of the scrip stood at Rs. 506.60 and Rs. 461.00 respectively. The current market cap of the company is Rs. 1097.16 crore.

The promoters holding in the company stood at 52.70%, while institutions and non-institutions held 16.69% and 30.61% respectively.

Atul Auto has signed agreement with engineering major Greaves Cotton to jointly develop power train solutions to meet BS VI norms. Under the agreement, the partners are looking to develop a new generation of fuel agnostic range of power train solutions meeting BS VI norms using diesel, petrol, CNG and electric power. With this new agreement, three-wheeler manufacturer keeps its commitment to the Indian market to provide value driven solutions at the lower end of the market.

Atul Auto's relationship with Greaves has been spread over a decade and their 'joint efforts have borne successful results on the ground in transporting people and goods in the last mile transportation space'.

Atul Auto is a leading manufacturer of 3-Wheeled Commercial Vehicles in the state of Gujarat, presently engaged in the manufacturing of Three Wheelers like 6-seater Auto Rickshaws, Pick-Up Vans and Chassis of Passenger Vehicles.


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