Auto parts and equipment maker JTEKT India’s shares zoomed on Tuesday after the company won an order worth Rs 182.7 crore from JTEKT Brasil Ltd to supply certain loose parts. The stock of JTEKT India (JTEKTINDIA) jumped by Rs 10.2, or 7.7 per cent, to Rs 142.9 apiece at the strongest level of the day on BSE.

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At around 10:35 am, JTEKT India shares quoted with a gain of 5.4 per cent at Rs 139.9 apiece on the bourse.  

JTEKT Brasil is a group company of Japan-based JTEKT Corporation, which is the holding company of JTEKT India.

The size of the order will vary as per customer demand, JTEKT India said while announcing the deal post-market hours on Monday. 

"We wish to inform you that the Company has received a new order from JTEKT Brasil Ltda for supply of loose child parts," it said. Child parts are sub-parts of an assembly or a bigger component.  

The supply of the goods under the respective purchase order (PO), issued by JTEKT Brasil, will be for a duration starting from the date of issuance and will expire on the delivery time scheduled, JTEKT India added. 

JTEKT India financial results  

In October, JTEKT India posted a consolidated net profit of Rs 27 crore for the quarter ended September, a decline of 2.5 per cent compared with the corresponding period a year ago. Its revenue increased 2.3 per cent on a year-on-year basis to Rs 583.9 crore, according to a regulatory filing.  

JTEKT India share price: Historical performance  

JTEKT India shares have slipped more than six per cent so far in 2023, sharply underperforming a rise of more than 15 per cent in the headline Nifty50 index.  

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