Sundaram-Clayton share price up 4% after Tamil Nadu unit begins production
Source: Business Standard
Sundaram-Clayton shares surge: Aluminium die-casting manufacturer Sundaram-Clayton shares rose as much as 4.05 per cent to hit an intraday high of Rs 1,864.80 per share on Friday, September 6, 2024.
The shares of Sundaram-Clayton surged after the company announced that it has commissioned the commercial production of Aluminium Die Castings, effective September 5, in Tamil Nadu.
In an exchange filing, the company said, “We wish to inform that the company has commissioned the commercial production of aluminium die castings effective today situated in the industrial area of the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) in Thervoy Kandigai, Tiruvallur District, Tamil Nadu.”
According to the company, the new facility has installed an annual capacity of manufacturing 7,750 MT of Aluminium Die Castings in the initial phase. Meanwhile, any further progress on the completion will be intimated in due course, the company added.
Sundaram Clayton Limited (SCL), founded in Chennai in 1962 as a joint venture between the TVS group and Clayton Dewandre Holdings Ltd from the UK, specialises in supplying aluminium die castings for both automotive and non-automotive applications.
SCL’s product range includes components such as cylinder heads, oil pans, chain cases, and fuel pump housings.
The company’s manufacturing capabilities feature in-house alloying, Pressure Die Casting (PDC) machines, Gravity Die Casting (GDC) stations, Low Pressure Die Casting (LPDC) machines, and advanced machining centres. SCL operates facilities in several locations across Tamil Nadu including Padi, Hosur, Mahindra World City, and Oragadam, as well as Ridgeville in South Carolina, USA.
The market capitalisation of Sundaram-Clayton is Rs 3,663.73 crore, according to Bombay Stock Exchange (BSE).
The 52-week high of the stock is 2,090 per share while its 52-week low is Rs 1,219 per share.
At 10:45 AM, shares of Sundaram-Clayton were trading 15.6 per cent higher at Rs 1,820 per share. In comparison, BSE Sensex was trading 0.98 per cent lower at 81.393.28 levels
First Published: Sep 06 2024 | 10:56 AM IST
