India's Talbros Automotive Components surges on order from European carmaker

Talbros Automotive Components

12/01/2021 05:02

** Shares of auto component maker  TALB.NS  jump as much as
9% to 185.3 rupees, their highest since June 6, 2019
    ** TALB's 50% joint venture Marelli Talbros Chassis Systems
gets a multi-year order from large European car manufacturer
 urn:newsml:reuters.com:*:nFWN2JM1NM
    ** Annual order value seen at 144 mln rupees ($1.96 mln);
order valued at about 920 mln rupees over life of contract
    ** No major investments needed to fulfill order, co adds
    ** Around 220,000 shares change hands by 0454 GMT, vs 30-day
avg of 47,718 shares; TALB heads for 4th straight session of
gains
    ** Stock up nearly 19% YTD up to last close, vs a ~9% rise
in the Nifty Auto Index  .NIFTYAUTO ; TALB rose 20% in 2020



($1 = 73.4340 Indian rupees)

 (Reporting by Chris Thomas in Bengaluru)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))