Divgi torquetransfer share: There was a strong rise in the shares of Divgi TorqueTransfer Systems, a company related to the auto sector, on Friday. On the last trading day of the week, the stock rose 10.6 percent to Rs 787.15 per share intra-day on BSE. The share closed at Rs 742, with a gain of 4.31%. The 52 week low of the share is Rs 639.55. The share closed at this price on June 20, 2024. At the same time, the 52-week high of the share is Rs 1,149. The stock had reached this level in October 2023.
Reason for rise in shares
The rise in shares of Divgi TorqueTransfer has come due to a letter received by the company from the Maharashtra government. A project of Divgi TorqueTransfer Systems has been given the status of “Mega Project” by the Government. This project is located in Chordia Industrial Park in Satara district. The project of this company is under the Electric Vehicle Policy 2018. To generate growth and employment, the government had introduced the Electric Vehicle Policy 2018. The policy includes provisions for dedicated mega units to manufacture electric vehicles, their equipment and batteries. A mega project is eligible under this policy if it involves a fixed capital investment (FCI) of Rs 250 crore or the project generates 500 jobs.
about the company
The Pune-based auto components company provides torque transfer, transmission solutions to OEMs covering utility, passenger or commercial as well as agri vehicles in India and across the world.
IPO will come in the year 2023
The IPO of Divgi Torquetransfer Systems Limited came in the year 2023. The price band of this IPO, launched in the month of March, was Rs 560 to Rs 590. The IPO shares were listed on March 14, 2023.
