ASK Automotive, a leading supplier of braking systems and lightweight parts for two-wheelers, is expanding into the passenger vehicle (PV) aluminium casting component segment to boost revenue. With a 35% market share in the 2W drum braking system market, ASK is well-positioned to benefit from the growth in the 2-wheeler industry. The company aims to achieve a 10% compound annual growth rate (CAGR) and a margin of 13-14% in the aluminium casting segment by FY25-26.
"We strongly believe that ASK Automotive gives allotted investors a long-term opportunity to hold and raid the growth in automobile sector. All allotted investors can hold for long term, while those who failed to get allotments, can accumulate on the listing day," said Prashanth Tapse, Research Analyst-Sr VP Research, Mehta Equities.
ASK Automotive shares were listed at a premium of about 8 per cent on both BSE and NSE at Rs 304.90 and Rs 303.30, respectively, over the issue price 282 apiece.