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Auto component maker Pricol shares up 8%, 155% in past 1 yr

 
New Delhi, Jan 13 (IANS) Shares of Pricol soared over 10 per cent on Thursday due to healthy business prospects for the company in the medium-term.

During the entire session, the shares pared a portion of its intra-day gains and settled nearly 8 per cent high at Rs 129.

The company is heavily investing in next-gen technologies to sustain growth besides continuing with its focus on reducing debt to become debt free over the next few quarters.

Pricol commenced its operations in 1975 in Coimbatore is a manufacturer of automotive instruments.

It provides products and solutions to two wheeler, three wheeler, four wheeler, commercial vehicle, tractors and off-road vehicles.

Besides, rating agency ICRA reaffirming the company with a stable outlook also supported its stock.

Historically, over the past one-year period, the company accumulated 155 per cent returns for its investors, data showed.

--IANS
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