In past four trading days, BSE smallcap index has rallied 5.3 per cent, as against 3.6 per cent rise in the S&P BSE Sensex.
Pricol is expected to register steady business performance on healthy demand for its products from OEMs and export customers and sustain its operating profitability at current levels, as per analysts
MCL bought Pricol's shares at a price of Rs 208.98 per share. This is an open-market transaction and no prior approvals have been obtained
Pricol is a major player in the connected vehicle solutions and telematics segment of the auto component industry
Pricol said the promoters have absolutely no intent of undertaking any secondary sale of promoter stake nor does the company have any intent to raising equity capital of any form.
Since July, most of the auto ancillary stocks have geared up with a resolute strength and continue to rally smartly seeking higher ground.