Atul Auto stock rises 6 per cent after talks on rights issue

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Atul Auto stock rises 6 per cent after talks on rights issue

Shares of Atul Auto increased 6 per cent in early trade, after the firm said it would meet on October 8 to discuss raising funds via the rights issue of shares. Atul Auto stock rose by 5.95 per cent to Rs 211 against the previous close of Rs 199.15 on the BSE. The stock opened with a gain of 2.96 per cent at Rs 205.05, a gain that was seen as a result of a rally in the broader market. Atul Auto shares have gained 12 per cent in the past two sessions.

Atul Auto stock is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock is down 6 per cent in a year, but rose 9 per cent in 2022.

There were 0.24 lakh shares of the firm that changed hands with a turnover of Rs 49.61 lakh on the BSE. The firm's market cap rose to 453.24 crore. On November 4, 2021, the stock hit its 52 week high of Rs 270 and 52 week low of Rs 145.10 on June 21, 2022.

In its monthly update, the firm said that sales rose 20.15 per cent in September 2022 to 2254 units against 1,876 units in the same month last year. Sales increased by 78.63 per cent to 11,309 units in the first half of April to September of this fiscal against 6,331 units in the April September period of the previous fiscal.

Atul Auto Limited is engaged in the manufacturing and selling of three-wheeler automobiles and the sale of spare parts of three wheeler automobiles. It offers after sales support to customers through the dealership network.