Introduction:
Leading manufacturer has secured a new nomination to supply drive train parts for BMW AG’s upcoming electric sports car. This marks their second nomination within the electric vehicle (EV) segment, reinforcing their strategy to expand into the growing EV market with advanced manufacturing capabilities.
Share price movement of RACL Geartech Limited:
On November 19, 2024, RACL Geartech Ltd. opened at ₹805.00, marking a 0.99% increase from its previous close of ₹797.10. The stock reached an intraday high of ₹839.80, showing a 5.37% rise, and an intraday low of ₹805.00, up 0.99%.
By 11:43 AM, it was trading at ₹825.94, reflecting a 3.6% increase. The market capitalization for the day stood at ₹888.40 crore.
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RACL Geartech Receives Nomination from BMW Parts Supply
RACL Geartech Limited has received a nomination from BMW AG to supply drivetrain parts for the automaker’s upcoming electric sports car, marking its second nomination in the EV passenger car segment.
This partnership reflects RACL Geartech’s growing presence in the electric vehicle market, positioning the company as a key supplier in the EV supply chain.
Production of these drivetrain parts is scheduled to begin in 2026. RACL Geartech assures shareholders of continuous updates and maintains transparency as it strengthens its position in the rapidly expanding EV sector.
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Recent news on RACL Geartech Limited:
As of November 15, 2024, RACL Geartech Limited reported a 35.95% decline in its consolidated net profit for the September 2024 quarter, dropping to Rs 5.58 crore from Rs 8.72 crore in the same period last year.
Despite the profit dip, the company saw a 6.7% increase in revenue, reaching Rs 123.99 crore. The decline in profit was attributed to increased raw material costs and higher depreciation.
Stock performance of RACL Geartech Limited for Period of 1 week, 6 months and 1 year:
RACL Geartech Limited has seen a significant decline in its performance, with returns dropping by 12.4% over the past week, 36.2% over the past six months, and 36.5% over the past year, indicating challenges in recent market conditions and overall financial health.
Shareholding pattern of RACL Geartech Limited:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 53.30% | 53.30% | 53.30% |
| FII | 0% | 0.00% | 0.10% |
| DII | 0.00% | 0% | 0% |
| Public | 46.60% | 46.70% | 46.60% |
About the company RACL Geartech Limited:
RACL Geartech Ltd (RACLGEAR | 520073 | INE704B01017), established in 1983, manufactures and exports automotive gears and components, specializing in transmission gears, shafts, and precision machined parts for both automotive and industrial applications.
With a global customer base, the company operates manufacturing units in Uttar Pradesh and warehouses in Europe, holding multiple quality certifications.
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.
