Remsons Industries shares rally 17% after bagging over ₹300 crore orders from Stellantis
Published on 15/05/2025 10:20 AM
Remsons Industries shares rally 17% after bagging over ₹300 crore orders from StellantisDelivery schedules under this contract will begin from the next financial year, and the order will be executed over a period of seven years, according to the company's exchange filing.By Meghna Sen May 15, 2025, 10:20:20 AM IST (Published)1 Min ReadShares of auto component supplier Remsons Industries Ltd. gained as much as 17% on Thursday, May 15, after the company secured multiple orders worth over ₹300 crore from Stellantis N.V., North America.
The deal, one of the largest in Remsons Industries’ history, is for the supply of control cables for Stellantis Smart Cars, Jeep models, and its three-wheeler segment.
Delivery schedules under this contract will begin from the next financial year, and the order will be executed over a period of seven years, according to the company's exchange filing.
The contract includes standard terms relating to quality, delivery timelines, and pricing, mutually agreed upon by both parties.
Last month, Remsons Industries announced had purchased a majority stake in Astro Motors, an electric three-wheeler manufacturer. The deal was worth Rs 14.22 crore.
The Remsons Industries stock is currently trading 9.69% higher at ₹131.25. On a year-to-date basis, the stock is down nearly 10%.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsStellantis