Atul Auto hits 3-year high, has zoomed 47% in a month

moneycontrol.com:

 Atul Auto Ltd hit a three-year high in the afternoon trade on January 19, surging nearly 47 percent in the last month on the back of higher volumes.

Atul Auto Ltd posted better-than-expected sales numbers in December and also announced a foray into the electric vehicle segment, boosting investor sentiment.

The stock hit a high of Rs 364, a level last seen on April 1 2019, in the afternoon. At 1 pm, the stock was trading at Rs 360 on the BSE, up 5 percent from its previous close. Atul Auto has gained more than 75 percent in the last year.

On January 3, the firm reported a 28 percent rise in its sales to 2,151 units in December from 1,683 sold a year ago.

In the April-December 2022 period, its total sales increased to 18,065 units, up from 11,499 in the corresponding period of the previous fiscal year, the company said in a business update. Its quarterly numbers are awaited.

At the Auto Expo 2023, Atul Auto's arm Atul Greentech Pvt Ltd announced its foray into the EV space with the unveiling of two three-wheelers—Atul Mobili and Atul Energie.

The Mobili is an electric passenger vehicle, Energie latter is a cargo variant.

"The launch of its 3W EVs is on track and augurs well for long-term growth", analysts said.

The firm, for the September quarter, returned to profit of Rs 0.37 crore after almost six quarters of losses.

Revenue grew 40 percent year on year, 17 percent quarter on quarter, to Rs110 crore. Realisations rose 5 percent YoY to Rs182,208. Management guided for 25,000 volumes in FY23.