Pricol

Pricol shares hit 52-week high on robust March quarter results

The automotive components manufacturer's net profit climbed 39.3 per cent to Rs 41.5 crore in the March quarter of financial year 2024 (Q4FY24)

CCI approves Minda Corporation's proposed 8.79% stake purchase in Pricol

The Competition Commission of India (CCI) on Tuesday said it has approved Minda Corporation's proposed 8.79 per cent stake purchase in Pricol. Minda Corporation is in the business of manufacturing of auto components and caters to Original Equipment Manufacturers (OEMs) and Tier-1 in various segments in India. The proposed combination relates to an acquisition of up to 8.79 per cent (approx.) of the equity share capital of Pricol by Minda, according to a release. Pricol manufactures automobile components for OEMs, Tier-1 and replacement markets across India and globally. Deals beyond a certain threshold require approval from the regulator CCI.

Minda Corp divests 15.07 pc stake in Pricol worth Rs 631 crore

Minda Corporation on Wednesday offloaded a 15.07 per cent stake in automotive components maker Pricol Ltd for around Rs 631 crore through an open market transaction. ICICI Prudential Mutual Fund (MF), Fidelity India Fund, Tata MF, Aditya Birla Sun Life Insurance Company, Goldman Sachs India, City of New York Group Trust, and Carnelian Asset Management & Advisors, among others, were the buyers of Pricol's shares on the National Stock Exchange (NSE). Minda Corporation Ltd sold more than 1.83 crore shares, amounting to a 15.07 per cent stake in Pricol, as per the block deal data available with the NSE. The shares were disposed of at an average price of Rs 343.50 apiece, taking the transaction size to Rs 631.23 crore. After the latest transaction, Minda Corporation's shareholding has declined to 0.63 per cent from a 15.70 per cent stake (at the end of December quarter) in the company. The scrip of Pricol Ltd rose 3.35 per cent to close at Rs 380.50 apiece on the NSE.

Pricol announces technology, supply partnership with China-based firm

Automotive technology firm Pricol Ltd on Wednesday announced a partnership with China-based Heilongjiang Tianyouwei Electronics for Driver Information System (DIS), including e-cockpit, heads up display, for vehicle segments. The company said it has entered into a co-operation agreement for technology and supply of parts and systems with the overseas firm, which will support it exclusively on the projects identified for such collaboration. The company said it will source components and/or sub-assemblies from Heilongjiang Tianyouwei Electronics as part of the supply arrangement. "We are confident that our efforts will help in providing state-of-the-art solutions in the DIS space, where Pricol has a dominant position in the Indian market. "Pricol's domain expertise combined with Heilongjiang Tianyouwei Electronics's technological prowess marks a significant step towards achieving a vision of enhancing the driving experience for Indian customers," Pricol Ltd Managing Director Vikram .

Pricol Ltd reports 55% rise in consolidated Q1 profit at Rs 31.93 cr

Auto components maker Pricol Ltd has reported a 55 per cent rise in its net profit for the April-June 2023 quarter at Rs 31.93 crore, the Tamil Nadu-based company said on Wednesday. The firm had registered a consolidated net profit of Rs 20.59 crore registered in the same period of last year. For the year ended March 31, 2023, the consolidated profit was Rs 124.68 crore, PRICOL Ltd said in a statement. "With a strategic vision, collective efforts, and unwavering support of our team, we have reported a sharp increase in the revenue this quarter and achieved the highest ever topline in Q1 in the history of our company," Managing Director Vikram Mohan said about the financial performance. Total income during the April-June 2023 quarter went up to Rs 540.05 crore from Rs 446.44 crore registered in the same period of last year. For the year ended March 31, 2023, the consolidated total income was Rs 1,963.14 crore. "The numbers are also higher than the revenue reported during Q4 in the

Minda may have its work cut out raising stake in component major Pricol

The question is how far Minda will drive itself in its bid to acquire market share

Pricol gets relief from Madras High Court in tussle with Minda Corp

Auto components maker Pricol Ltd on Thursday said it has moved the Madras High Court challenging the validity of the application of rival Minda Corporation to the Competition Commission of India to acquire a 24.5 per cent stake in it. Minda Corporation had earlier this month decided to approach the CCI to increase its stake in Pricol to up to 24.5 per cent, following the acquisition of a 15.7 per cent stake by purchasing over 1.91 crore shares of the latter from the open market on February 17, 2023. In a regulatory filing, Pricol said it has filed a writ petition before the Madras High Court in connection with Minda Corporation Ltd's (Minda's) application to the CCI. The petitions challenged the validity of the application of Minda to the CCI, for making investment in equity shares of Pricol Ltd up to 24.5 per cent of total equity shares, it added. The Division Bench of the High Court on May 24, 2023 "admitted the writ petition and restrained by way of an interim order, the taking

Auto parts firm Pricol moves CCI over Minda plan to buy 24.5% stake

Battle between the two firms began this February when Minda Corp bought 15.7% in Pricol for Rs 400 crore in the open market. Early this month, Minda sought CCI nod to buy 24.5% more in Pricol

Pricol Ltd posts nearly 127% rise in Q4 consolidated profit at Rs 29.80 cr

Pricol Ltd has reported 126.96 per cent rise on its consolidated profit during the fourth quarter ending March 31, 2023 at Rs 29.80 crore, the company said on Wednesday. The Tamil Nadu based automotive technology firm had registered consolidated profit at Rs 13.13 crore in the corresponding quarter of previous year. For the year ending March 31, 2023 the consolidated profit surged by 144 per cent to Rs 124.68 crore from Rs 51.09 crore recorded in the same period of last year, Pricol Ltd said in a BSE filing. Total income on consolidated basis during the quarter under review went up to Rs 525.37 crore from Rs 415.80 crore registered in same period of previous year. For the year ending March 31, 2023 the consolidated total income grew to Rs 1,963.14 crore from Rs 1,553.51 crore registered in same period of last year, the company said.

Smallcap index outperforms for 2nd straight day; 24 stocks hit 52-week high

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 hits record high on heavy volumes; surges 30% in last 10 sessions

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

Minda Corp slips 9% in 3 days after it acquires 15.7% stake in Pricol

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

Minda Corp set to focus on organic growth after 15.7% Pricol buy

Pricol is a major player in the connected vehicle solutions and telematics segment of the auto component industry

Pricol denies Minda Corp claim of buying 15.7% stake in firm for Rs 400 cr

Coimbatore-based automotive components company denies promoters selling stake

Minda Corp, Pricol surge up to 6% amid stake sale buzz

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.

Bulls fancied these 5 auto ancillaries in 2022; charts hint 25% rally ahead

Since July, most of the auto ancillary stocks have geared up with a resolute strength and continue to rally smartly seeking higher ground.

Pricol Ltd reports consolidated Sept quarter net profit of Rs 47.52 crore

Pricol Ltd has recorded a consolidated profit for the July-September 2022 quarter at Rs 47.52 crore, the company said on Friday. The city-based automotive technology company had registered consolidated profit at Rs 14.66 crore during corresponding quarter of previous year. For the half year ending September 30, 2022 the consolidated profit grew to Rs 68.12 crore from Rs 20.60 crore registered in same period of previous year, the company said. The consolidated total income during the quarter under review went up to Rs 516.46 crore from Rs 409.49 crore registered in same period of last year. For the six-month period ending September 30, 2022 the consolidated total income grew to Rs 962.90 crore as against Rs 729.41 crore registered in same period of last year. "Whilst the demand from the industry remains stable, the supply chain disruptions and chip shortages still continue to put a stress on our top-line and bottom-line. With our focused efforts to meet the customer demand despite

Pricol extends gain, at new high after Aditya Birla Sun Life MF buys stake

On Wednesday, January 19, Aditya Birla Sun Life Mutual Fund Pure Value Fund purchased 1 million equity shares representing 0.82 per cent stake of Pricol at Rs 126.50 per share via bulk deal on the NSE

Pricol soars 13%, hits all-time high on healthy business prospects

Rating agency ICRA said that its reaffirmation in ratings takes into account Pricol's strong revenue and margin growth in FY2021 and H1 FY2022.

Minda Corp, Pricol: These auto ancillary stocks may be the next big movers

Auto ancillary stocks may jump up to 15 per cent in upcoming sessions