Pritika Auto Industries Ltd has received an additional Order from existing large customer for Axle Housings

Pritika Auto Industries Limited (BSE: 539359), a pioneer and among leading players in manufacturing world class auto components in India, announced that the Company has won an additional order for axle housings.

This additional order comes from a long-standing large customer who has been increasing the volume of order over time. The order is worth Rs. 10 cr per annum. This represents the high level of confidence that OEMs have in Pritika Auto Industries, even during difficult market scenarios, and would increase the Company's market share in this product segment.

Commenting on the market outlook, Mr. Harpreet S. Nibber, Managing Director, Pritika Auto Industries Limited said: "We are very pleased to announce an additional order for axle housings coming from a very old and reputed customer. The volume of orders we have been receiving from this customer has been growing over a period of time, which indicates the confidence and faith that our Company garners from OEMs, irrespective of industry scenarios.

The order is worth Rs. 10 cr per annum and we expect it to boost our market share in this segment going forward. As the industry recovers, we are ready and poised for such incremental orders in terms of capacity and resources. We continually strive to build further on our reputation of being quality manufacturers as well as efficient and fast executors of new and incremental demand.

This development marks a market upswing and we are hopeful of a positive outlook in the coming quarters. I thank the entire team of 'Pritika' for their untiring efforts, hard work, sincerity and dedication in making this happen."

Shares of Pritika Auto Industries Ltd was last trading in BSE at Rs.113.45 as compared to the previous close of Rs. 109.1. The total number of shares traded during the day was 71705 in over 368 trades.

The stock hit an intraday high of Rs. 115.4 and intraday low of 108.4. The net turnover during the day was Rs. 8075114.

Source : Equity Bulls

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