Thursday , October 21 2021

Autoline Industries touches roof on signing agreement with Kinetic for E-cycles

Autoline Industries is currently trading at its upper limit of Rs. 28.60, up by 2.60 points or 10.00% from its previous closing of Rs. 26.00 on the BSE.

The scrip opened at Rs. 28.00 and has touched a high and low of Rs. 28.60 and Rs. 28.00 respectively. So far 2896 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 73.00 on 02-Jan-2019 and a 52 week low of Rs. 20.80 on 25-Oct-2019.

Last one week high and low of the scrip stood at Rs. 28.60 and Rs. 24.40 respectively. The current market cap of the company is Rs. 77.30 crore.

The promoters holding in the company stood at 29.70%, while Institutions and Non-Institutions held 17.74% and 52.55% respectively.

Autoline Industries and Kinetic Green Energy and Power Solutions, Pune (Kinetic), leading Electric Vehicle manufacturer in India, have signed an Agreement for joint development and nationwide marketing of electric bicycles (E-Cycle).

Under the agreement, the company will undertake the development and manufacturing of the E-cycle critical assemblies. The company, in association with Kinetic, has successfully developed the first 2 models of E-Cycles with R&D effort over the last 18 months. These e-cycles will be available for the customers in the Indian market by November, 2019 with the help of Kinetic’s strong pan India dealership network, the aim is to promote these E-cycles across India.

Autoline Industries is engaged in the manufacturing of various auto parts/sheet metal components for passenger cars, sports utility vehicles (SUV), commercial vehicles, two-wheelers, three-wheelers, tractors, etc. The company is also exporting auto parts i.e. brake shoes for Mercedes Benz trailers to Saudi Arabia, Dubai, etc.

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