Introduction:
An auto ancillary company witnessed a 20% surge in shares, reaching a record high of ₹840.00, driven by a 1:1 bonus share announcement and strong Q2 FY25 results, showcasing robust net profit growth, evolving opportunities, and expanding presence in traditional and alternative automotive markets.
Share Price movement of Banco Products Ltd:
As of November 14, shares of Banco Products Ltd opened at ₹787.90, reached an intraday high of ₹839.00, and a low of ₹775.00 before closing at ₹839.00, reflecting a significant upward movement for this auto ancillary stock during the trading session.
Banco Products Ltd share price rise:
Auto ancillary company Banco Products surged 20% upper circuit in Thursday’s trade, hitting a record high of ₹840.00 on the BSE after announcing a 1:1 bonus share issue. This is the first bonus declared in 17 years, with the last issuance in August 2007, reflecting the company’s robust growth trajectory.
At 9:40 AM, Banco Products was trading 16% higher at ₹811.80, surpassing its previous high of ₹798 recorded in July 2024. The stock has rebounded strongly, gaining 59% from its June low of ₹517.70. The boost follows Q2 FY25 results showing a more-than-doubled net profit of ₹138.70 crore, compared to ₹66.11 crore a year ago, with gross sales rising 23.8% YoY to ₹888.81 crore.
The company attributes its growth to evolving emission norms like Bharat Stage V for off-highway and construction machinery and air-conditioned cabins for commercial vehicles. These changes have unlocked significant opportunities in alternative fuel applications, driving demand for its products, including heat exchangers and cooling systems.
In the EV and alternative energy markets, Banco Products is actively developing and supplying cooling systems, gaskets, and sealing solutions to domestic and international clients. The company’s expanded OEM business and growing customer base underscore its strong market presence and future potential in both traditional and evolving automotive sectors.
Recent news About Banco Products Ltd:
Banco Products (India) Ltd. has scheduled a board meeting on November 13, 2024, to consider the issuance of bonus shares and to review the company’s unaudited financial results for the quarter and period ending September 30, 2024
Stock performance of Banco Products Ltd for Period of 1 week, 6 months and 1 year:
Over the past week, Banco Products Ltd’s stock gained 8.68%. Over six months, it saw a strong increase of 37.7%, and over the past year, it delivered a solid return of 39.7%, highlighting consistent growth in its performance across all periods.
Shareholding pattern of Banco Products Ltd:
| All values in % | Sep-24 | Jun-24 | Mar-24 |
| Promoters | 67.88 | 67.88 | 67.88 |
| FII | 3.08 | 3.21 | 3 |
| DII | 0.18 | 0.14 | 0.13 |
| Retail & others | 28.86 | 28.77 | 28.97 |
About Banco Products Ltd Industries:
Banco Products Ltd is a leading auto ancillary company specialising in the manufacturing and sale of heat exchangers, cooling systems, gaskets, and sealing solutions. Catering to domestic and international markets, the company serves automotive, industrial, and alternative energy sectors with innovative, high-quality engineering solutions.
