Auto ancillary stock jumps 3% after acquiring 51% stake in Astro MotorsAuto ancillary stock jumps 3% after acquiring 51% stake in Astro Motors

Introduction:

Auto ancillary stock in focus after announcing plans to acquire 51.01% stake in an EV manufacturer. This strategic move aims to boost presence in the electric mobility space and strengthen future growth in clean transportation solutions.

Share Price movement of Remsons Industries:

On April 9, 2025, Remsons Industries Limited opened at ₹120.50, reaching a high of ₹128.30, up 3% from the previous close of ₹122.31 and a low of ₹119.60. The stock is currently trading at ₹122.83, with a market cap of ₹428.42 Crores.

Remsons Industries new acquisition:

Remsons Industries Limited’s Board has approved acquiring a 51.01% stake in Astro Motors Private Limited. The acquisition involves a ₹10 crore cash investment and a share swap worth ₹4.22 crore, subject to shareholder approval in the upcoming EGM scheduled for May 6, 2025.

The acquisition will be completed by June 30, 2025, making Astro Motors a subsidiary of Remsons. The target company operates in the electric vehicle segment, manufacturing EVs for cargo, loaders, and passengers. No regulatory approvals are required for this strategic acquisition.

Astro Motors, incorporated in February 2020, is based in Mumbai. Its turnover was ₹3.55 lakh in FY24. The acquisition includes 88,900 equity shares of ₹10 each. The deal aims to diversify and strengthen Remsons’ presence in the EV mobility sector.

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Ace investor holding of Remsons Industries:

Ace investor Chintan Chetan Bhayani holds 405,000 shares in Remsons Industries Ltd., valued at ₹5.0 Crores. As of December 2024, his stake stood at 1.16%, indicating steady interest in the auto ancillary segment despite recent stock performance challenges.

Stock performance of Remsons Industries for Period of 1 week, 6 months and 1 year:

Remsons Industries’ stock has shown significant weakness across timeframes. Over the past week, it declined by 8.22%. In the last six months, it plunged by 43.7%, and over a one-year period, the stock recorded a steep fall of 35.8%, indicating sustained pressure.

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Shareholding pattern of Remsons Industries:

Summary	Dec-24	Sep-24	Jun-24
Promoter	65.30%	65.30%	65.30%
FII	4.50%	4.50%	2.80%
DII	0.20%	0.30%	0.20%
Public	30.00%	29.90%	31.70%

About Remsons Industries:

Remsons Industries Ltd (NSE: REMSONSIND) is a leading auto ancillary company engaged in manufacturing automotive control cables, gear shifters, and pedal boxes. It supplies to major OEMs in India and abroad, supporting both two-wheeler and four-wheeler segments with a focus on innovation and quality.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.