On Friday, Craftsman Automation (CAL) shares hit an 8-month high of Rs 2,524, as the stock rallied 6 per cent on the Bombay Stock Exchange.

The stock of auto ancillary companies traded at its highest level in November 2021. It had hit a record high of Rs 2,772.80 on Nov 1. The essential products in the automotive segment include power train products, cylinder blocks, cylinder heads, cam shafts and crank cases for commercial vehicles (CVs), sports utility vehicles, two-wheelers, farm equipment and earth moving and construction equipment.

All major auto OEMs under the industrial segment and its client. The automotive segment includes Daimler India, Tata Motors, Ashok Leyland, M&M, TVS Motors, and Royal Enfield, among others.

“The company’s key focus areas are debt reduction and thereby savings in interest cost, increasing the value-added per product, to sustain the EBITDA levels, enhance profitability in aluminium and storage Business and enhance the share of a non-automotive business,” the company said in FY22 annual report.