New Order from Tata Motors, Autoline Shares Rise 16%

Autoline Industries has received a new component order from Tata Motors Passenger Vehicles for the SUV segment. Following this news, the company's shares rose 15.97% to ₹98.49 on BSE on Thursday. The company expects an additional annual income of around ₹100 crore from this new business.

Autoline Industries informed the exchange that this order will manufacture components for both internal combustion engine and electric vehicle models. The company's Managing Director Shivaji Akhade said that this business award reflects the strength of the company's engineering and manufacturing capabilities and the trust with Tata Motors.

He stated, "Our focus is on completing the program with discipline in terms of quality, cost, delivery, and capacity readiness. This order further strengthens our relationship with Tata Motors." He also said that the company is committed to creating long-lasting value for its customers, shareholders, employees, and other stakeholders.

In March, Autoline's share was at ₹48.41, which has now reached ₹98.49. If the rally continues, the price could reach a new high. The company manufactures sheet metal components, assemblies, and sub-assemblies for the automobile sector and supplies over 3,000 products. It has more than 9 manufacturing facilities, in-house design and engineering services, and a commercial tool room.

Autoline Industries was established in 1996 and is headquartered in Pune.