TALBROAUTO.NSE Talbros Automotive Components Ltd.

The orders received from a leading established export OEM for the electric vehicles (EV) for over Rs 165 crore over 5 years (expected SOP for these products is FY25). The order is through the joint venture Marelli Talbros Chassis Systems. It also received orders from new customers for multiple auto parts for multiple applications; and from new OEM customers in the non-automotive segment for domestic and export markets.These orders are to be executed over a period of next 5-7 years covering the companys product lines – gaskets, heat shields, forgings and chassis.“These orders will help the company increase its share with existing customers and new customers across geographies which will help the company grow and gain market share in the coming years,” the company stated in regulatory filing.Talbros Automotive Components is engaged in the business of manufacturing Gaskets and forging. The companys consolidated net profit jumped 33.9% to Rs 16.88 crore on 18.2% rise in Total income from operations to Rs 174.95 crore in Q4 FY23 over Q4 FY22.The scrip hit an all time high of Rs 785.75 in intraday today.

HDFC Securities is bullish on Talbros Automotive Components has recommended buy rating on the stock with a fair value price of Rs 850 in its research report dated June 26, 2023.

Mishra Dhatu Nigam has experienced a breakout of a bullish Inverse Head and Shoulder pattern on the daily chart. It has retested its previous breakout level of Rs 213 and starts a new leg of the rally towards Rs 280.

This week, 18,650-18,700 is expected to be a crucial hurdle and, if the index decisively surpasses this area, then 18,800-19,000 levels can't be ruled out