Shares of Remsons Industries Ltd skyrocketed 17% on 15 May after the company announced securing orders worth Rs 300 crore from Stellantis N.V., North America.

The agreement, one of the largest in Remsons Industries’ history, calls for the provision of control cables for Stellantis Smart Cars, Jeep variants, and its three-wheeler division.

Delivery schedules under this contract will commence in the following fiscal year, and the order will be carried out over a seven-year period, according to the company’s exchange filing.

The contract covers conventional parameters regarding quality, delivery timelines, and cost that were mutually agreed upon by both parties.

Remsons Industries said last month that it had obtained a majority stake in Astro Motors, a manufacturer of electric three-wheelers. The transaction was worth Rs 14.22 crores.

At 2:47 pm, the shares of Remsons Industries were trading 12.99% higher at Rs 135.61 on NSE.

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