Truck makers and related service providers' shares were in high demand on Dalal Street on Tuesday, a day after Union Minister Nitin Gadkari said trucks will need to have AC compartments for drivers. The stocks of Amber Enterprises — a company catering to the heating, ventilation and air conditioning industry — and Subros — a manufacturer of thermal products for automotive applications — staged double-digit percentage gains during the session. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Amber Enterprises shares surged as much as 13.2 per cent to Rs 2,384 apiece on BSE before finishing the day with a 7.8 per cent gain. Amber Enterprises is the primary manufacturer of roof-mounted ACs for buses in the country. 

The minister said he had originally intended to introduce AC-equipped compartments for truck drivers from the day he took charge but there were some apprehensions about higher costs. He also said the industry will be given 18 months to implement the change. 

He also said truck drivers play a crucial role in a country's transport sector.

The Subros stock hit the 20 per cent upper circuit to register a 52-week high of Rs 434.5 apiece and closed at the same level. 

Truck manufacturer stocks such as Tata Motors and Eicher Motors also saw strong buying interest. Tata Motors ended 3.2 per cent higher after scaling a seven-year high of Rs 584 apiece during the session.

Eicher Motors rose two per cent to Rs 3,565.4 apiece, and Ashok Leyland shares recovered much of their day's losses to settle 0.4 per cent lower for the day at Rs 167.4 apiece. 

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.