Omax Autos spurts on foraying into truck assembly segment

Omax Autos is currently trading at Rs. 39.50, up by 2.65 points or 7.19 % from its previous closing of Rs. 36.85 on the BSE. The scrip opened at Rs. 39.90 and has touched a high and low of Rs. 39.90 and Rs. 38.85 respectively. So far 300 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 46.80 on 08-Jan-2014 and a 52 week low of Rs. 26.00 on 29-Jul-2013. Last one week high and low of the scrip stood at Rs. 40.00 and Rs. 34.05 respectively. The current market cap of the company is Rs. 83.09 crore. The promoters holding in the company stood at 56.24 % while Non-Institutions held 43.76 % of company’s stake. Omax Autos has entered into full-fledged truck assembly segment with plans to roll out 10,000 units in three years from its Bangalore plant. Meanwhile, the company has completed deliveries of an order of 20 vehicles for an undisclosed original equipment manufacturer. Moreover, the company has created a focussed assembly cell at its Bangalore plant where trucks are assembled and the company is aiming an annual volume of 10,000 vehicles in 3 years. The company manufactures a range of components for automobiles ranging from two-wheelers, three-wheelers, Off-Highway, passenger cars, commercial vehicles and railways.