This midcap auto component stock zooms 20% to hit fresh all-time high; check why?

Shares of  Endurance Technologies rallied in Friday’s trade (June 14) by as much as 20 per cent to Rs 3059.05, scaling its fresh all-time high. The sharp spurt in the auto ancillary stock was triggered after the company in its investor presentation came up with strong guidance for all the 3 segments, including 4-wheeler, electric vehicle and Aftermarket (AM).

The company in an exchange filing post market hours on Thursday informed about the analysts day meet on June 19. 

A group meeting with Analysts / Institutional Investors have been scheduled on 19th June, 2024 from 12.00 noon. to 2.00 p.m. at some of the manufacturing facilities of the Company in Chh. Sambhajinagar (erstwhile Aurangabad), said the filing.

This meeting is organised by Investec Capital Services (India) Private Limited (“Investec”), Mumbai, it added.

At around 12:36 pm, its shares traded higher at Rs 2717.50, up over 6 per cent from the previous close. The stock’s 52-week low and all-time low prices are Rs 1,511.60 and Rs 518.25 per share, respectively.

In a year’s time, the stock has gained 77 per cent, while its year-to-date return is at over 40 per cent.

Strategic priorities of Endurance Technologies 

In the four wheelers (4W) segment, the company is aiming to reach 45 per cent of consolidated turnover in FY30 as against 26 per cent in FY24. Also, it would ensure the continued growth of its profitable European operations serving marquee OEMs. Further it will work to provide new products through technology alliances/ M&A in India and Europe.

In the AM segment, it aims to reach 10 per cent of the turnover in FY28 from 6 per cent in FY24. Also, it will look to improve penetration in South India and enter new countries with high export potential, while strengthening the AM segment in Europe.

In the EV and hybrid space, it will collaborate with established OEMs and identified new entrants.  Launch new products which are EV-centric / EV-agnostic and build further on impressive EV order book in Europe and India

Also, the company will capitalize on its leadership position in the 2W/3W segment.

About Endurance Technologies

Endurance Technologies manufactures aluminium casting (including alloy wheels), suspension, transmission and braking products. The company is a midcap stock with a market capitalisation of Rs 38,019.06 crore.