Subros shares skyrocketed 17% and hit a 52-week high of Rs 531 on 11 December after the company announced securing a new order from IRCTC.

In its regulatory filing, the company said that it had secured a new order from Indian Railways for the supply and commissioning of coach roof-mounted air-conditioners for a total consideration of Rs 25 crore.

The company is already a supplier of Rail Driver Cabin Air-Conditioning Systems to the Indian Railways, and the current order is in line with the company’s strategic direction to expand its business in the Railway Electric Mobility segment.

Despite the fierce competition in the sector, the company has successfully maintained a strong market position, which has benefited from its integrated manufacturing operations and strong product development capabilities.

The company is a joint venture with 36.79% owned by the Suri family of India, 20% owned by Denso Corporation, Japan, and 11.96% owned by Suzuki Motor Corporation, Japan.

The company is a leading manufacturer of thermal products for automotive applications in India, in partnership with Denso Corporation, Japan. The company is in the business of manufacturing and selling thermal products for automotive and home air-conditioning original equipment manufacturers.

The company manufactures condensers, compressors, heat exchangers, and all connecting elements required to complete an AC loop and caters to all segments, including passenger vehicles, trucks, refrigeration, buses, transport, and railways.

At 3:15 pm, the shares of Subros were trading 11.05% higher at Rs 500.10 on NSE.