Multibagger small-cap stock Remsons surges 17% on order win from North America

Multibagger small-cap stock Remsons share price jumped 17% during Thursday's trading session after the company received several orders totaling more than ₹300 crore from Stellantis N.V., North America.

The agreement, marked as one of the most significant in Remsons Industries' history, involves providing control cables for Stellantis Smart Cars, Jeep models, and their three-wheeler segment. The delivery of goods under this contract will commence in the upcoming financial year, and the order will be fulfilled over a duration of seven years, as stated in the company's filing with the exchange.

The contract encompasses standard provisions related to quality, delivery schedules, and pricing, which have been mutually agreed upon by both parties.

“This is not just a new project; it is a moment that defines our journey and reaffirms the faith that global automotive leaders place in our capabilities, quality, and commitment,” said Rahul Kejriwal, Executive Director of Remsons Industries Limited.

Remsons Industries has been manufacturing components for automotive OEMs for five decades, serving two, three, and four-wheeled vehicles, as well as commercial and off-highway vehicles throughout India and globally.

Based in Mumbai, Remsons operates advanced manufacturing facilities located in Gurgaon, Pune, Pardi, and Daman in India, along with sites in Stourport and Redditch in the UK.

Remsons shares today

Remsons share price today opened at ₹120.05 apiece on the BSE, the stock touched an intraday high of ₹139.80 per share, and an intraday low of ₹119.80 per share.

Anshul Jain, Head of Research at Lakshmishree Investments said that Remsons shares are forming a solid 80-day base with strong structural support and an upper resistance at 135. Volume patterns within the base suggest steady accumulation, indicating bullish undertones.

“A breakout above 135, especially with high volume, would confirm the trend and could lead to a swift move toward the 175 level. The setup is constructive, and traders should watch for a breakout with volume confirmation to initiate fresh longs. Until then, patience is key,” added Jain.

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