Leading auto components manufacturer Subros Ltd saw its shares hitting a 20% upper circuit for the second straight trading session touching a fresh lifetime high at Rs 520.9 per share on June 21, 2023.

Subros is a joint venture company with 36.79% ownership by the Suri family (India), 20% ownership by Denso Corporation (Japan) and 11.96% ownership by Suzuki Motor Corporation (Japan). 

The company manufactures thermal products for automotive applications and is among India’s top auto airconditioning systems manufacturers and the country’s largest automotive condenser manufacturer. 

The stock soared after Union Minister of Road Transport and Highways Nitin Gadkari approved a proposal to make all truck cabins air-conditioned mandatorily starting in 2025. As per reports, making truck cabins air-conditioned would lead to an additional expenditure of Rs 10,000-20,000 for each truck.

The stock has rallied 33% in the past two trading days, continuing its upward march for the fourth consecutive session. The scrip was trading 11.55% higher at Rs 484.25 at 12:45 pm.