Lumax Auto Technologies surges 10%, hits record high on improved outlook

In FY23, the company expects domestic sales and exports to rebound as the global economy (including India) is experiencing a strong recovery

Shares of Lumax Auto Technologies surged 10 per cent to hit a record high of Rs 228 on the BSE in Friday's intra-day trade. In the past 17 trading days, the stock of the auto components company has zoomed 47 per cent on expectation of improved outlook. It surpassed its previous high of Rs 224, touched on August 16, 2018. In comparison, the S&P BSE Sensex was up 0.24 per cent 53,540 points at 10:36 am.

Increasing offtake from automobile Original Equipment Manufacturers (OEMs), on the back of an improving demand scenario, including pentup demand, strong after market demand,