Wabco shares hit record high on report ABS to be made mandatory

Tags: Companies
Shares in Wabco India Ltd surge as much as 17.8 percent to their record high of 3,667 rupees after The Economic Times reported the government would make anti-lock braking systems compulsory for all new models of commercial vehicles starting next April, citing unnamed government officials.

The stock also benefits after Kotak Institutional Equities separately starts coverage on Wabco India with an "add" rating and a target price of 3,500 rupees, saying the company would benefit from a recovery in sales of commercial vehicles as India's largest manufacturer of braking systems for the segment.

Wabco shares up nearly 8 percent at 10:57 a.m.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • The NDA government would do well to keep its economic focus in place

    It is as if the worst horrors conjured by liberal secularists about India’s prime minister could be finally coming true.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Taslima Nasreen

Religious conversion as fundamental right

Tricks and treats, coercion, threats, manhandling and extermination are the ...

Purnendu Ghosh

Does speed liberate or enslave humans?

Speed is the reflection of modernity and modernisation. Speed is ...

Shona Adhikari

Why Indian art auctions are here to stay

With Christie’s second India sale just over in Mumbai, we ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture