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Auto ancillary stock hits 20% upper circuit after it receives order worth ₹118 Cr from KIA for EV segment

Leading automotive parts manufacturer secured Rs. 118 crore in multi-year orders, including Rs. 50 crore for electric vehicles. This strengthens its EV market position and expands partnerships with global giants.
Auto ancillary stock hits 20% upper circuit after ₹118 Cr EV order from KIA.

Introduction:

Leading manufacturer of automotive sealing systems and parts has secured multi-year orders worth Rs. 118 crore, including a Rs. 50 crore deal for electric vehicles. The company strengthens its position in the growing EV market and expands its presence with global giants.

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Share price movement of PPAP Automotive:

On December 16, 2024, PPAP Automotive Limited opened at ₹216.95, unchanged from its previous close of ₹216.95. The stock reached a high of ₹260.25 (19.94%) and a low of ₹214.25. By 1:56 PM, it traded at ₹246.40, up 13.57%, with a market cap of ₹347.09 crore.

PPAP Automotive secures orders:

PPAP Automotive Ltd has secured multi-year orders worth Rs. 118 crore, including a significant Rs. 50 crore deal for electric vehicles. These orders will be executed over three to five years, signaling the company’s strong position in the growing EV market.

The company’s success in securing these orders highlights its strategy to expand in the electric vehicle sector. It also marks a key milestone with KIA, further solidifying PPAP Automotive’s presence with global automotive giants and strengthening long-term business relationships.

Mr. Abhishek Jain, CEO & MD of PPAP Automotive, emphasized the company’s commitment to excellence. He highlighted the success of new technology parts adopted by customers, boosting revenue and margin prospects in the future.

Recent news on PPAP Automotive:

As of November 11, 2024, PPAP Automotive hit a 20% upper circuit after Q2 FY25 results showed a 106.92% rise in net profit to ₹5.56 crore. Revenue rose 0.59%, with a 36.64% increase in operating EBITDA.

Stock performance of PPAP Automotive for Period of 1 week, 6 months and 1 year:

Over the past week, PPAP Automotive Limited has seen a slight decline of 0.31%. However, the stock has gained 5.79% in the last six months. Over the past year, it has experienced a 4.78% dip in performance.

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Also Read: Semiconductor stock jumps 4% after it forms JV with Vivo for manufacturing of smartphones

Shareholding pattern of PPAP Automotive:

All values in %Sep 2024Jun 2024Mar 2024
Promoter64.60%64.60%65.00%
FII5.80%5.70%5.80%
DII0.00%0.00%0.00%
Public29.60%29.70%29.20%

About PPAP Automotive:

PPAP Automotive Limited (NSE: PPAP) is a leading manufacturer of automotive sealing systems and parts in India. Established in 1978, the company specializes in plastic and rubber extrusion systems, injection molding, and Li-Ion battery pack solutions, serving top global automotive brands.

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.

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