Introduction:
Auto ancillary stock has acquired a 60% stake in Stoferle Automotive GmbH and Stoferle GmbH, Germany, through its Italian subsidiary. The deal aims to strengthen the company’s position in the automotive manufacturing sector and diversify its customer base.
Share price movement of Endurance Technologies:
On December 13, 2024, Endurance Technologies Ltd opened at ₹2,285.30, down 0.14% from its previous close of ₹2,289.65. The stock reached a high of ₹2,312.35 and a low of ₹2,262.45. At 11:42 AM, it traded at ₹2,286.45, with a market cap of ₹32,161.86 crore.
Endurance acquires Stoferle Automotive:
Endurance Technologies Limited has announced the acquisition of a 60% stake in Stoferle Automotive GmbH and Stoferle GmbH, Germany, through its subsidiary, Endurance Overseas Srl, Italy. The deal is valued subject to regulatory approval and completion.
The acquisition, finalized via a Share Purchase Agreement (SPA), includes an option to acquire the remaining 40% stake within five years. Stoferle Automotive and Stoferle GmbH are recognized for their expertise in producing machined aluminum castings for automotive applications, with a turnover of €72.1 million and €17.2 million, respectively.
This move is aligned with Endurance Technologies’ strategic plan to diversify its customer portfolio and expand its footprint in the automotive manufacturing sector. The deal aims to leverage Stoferle’s strong position in the industry, enhancing Endurance’s capabilities and operational growth.
Recent news on Endurance Technologies:
As of November 6, 2024, Endurance Technologies Ltd reported a 31.4% YoY surge in net profit, reaching ₹203 crore for Q2 FY25. Revenue increased 14.4% to ₹2,912.6 crore, while EBITDA rose 20% to ₹381.8 crore.
Stock performance of Endurance Technologies for Period of 1 week, 6 months and 1 year:
Endurance Technologies Ltd has experienced a 2.02% decline over the past week and a 15.0% drop over the last six months. However, the company saw a significant 35.6% growth in its stock price over the past year.
Also Read: IT stock jumps 7% after company to consider stock split
Shareholding pattern of Endurance Technologies:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 75.00% | 75.00% | 75.00% |
| FII | 9.50% | 8.70% | 7.80% |
| DII | 13.60% | 14.30% | 15.40% |
| Public | 2% | 2% | 2% |
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About Endurance Technologies:
Endurance Technologies Ltd (NSE: ENDURANCE) is an auto ancillary company, initially incorporated in 1999. It has evolved through various name changes and now specializes in automotive components, including suspension systems and transmission technologies, enhancing its market presence.
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.
