This midcap auto ancillary company’s share price hits 5% upper circuit: Check details

Stock market Today : The midcap auto ancillary company ASK Automotive Limited share price were locked in 5% upper circuit during the morning trades on Tuesday. ASK Automotive Limited has it enters into strategic partnership with Japanese company) for Manufacturing High Pressure Die Casted Alloy Wheels for Two-Wheeler.

ASK Automotive share price opened at ₹340.40 on the BSE on Tuesday, slightly higher than the previous days closing price of ₹339.55. The ASK Automotive share priec however rose to intraday highs of ₹356.50, which meant gains of 5%. Notably the intraday high after 5% gains also stood to be upper price band for the ASK Automotive share price and hence the stock was locked in the upper circuit.

ASK Automotive Limited tie up details

ASK Automotive Limited on Monday 3rd March 2025, post market hours intimated the exchanges that it has entered into strategic partnership with Kyushu Yanagawa Seiki Co., Ltd. (Japan) for Manufacturing High Pressure Die Casted Alloy Wheels for Two-Wheeler

The brake shoe and advanced braking systems manufacturer for two wheelers ASK Automotive Limited, signed Technical Assistance and License Agreement for Cast Wheel Production (Agreement) with Kyushu Yanagawa Seiki Co. Ltd ., Japan (KYSK) for manufacturing high pressure die casted alloy wheels for two-wheeler (Products) with KYSK offering technical expertise and knowledge sharing.

Ask Automotive is aiming to create, develop, and produce premium alloy wheels that will enhance two-wheelers, guarantee safety, meet international requirements, and provide goods with exceptional performance.

In a statement Speaking following the strategic partnership with KYSK, Mr. Kuldip Singh Rathee, Chairman and Managing Director, ASK Automotive Limited, said, “ Today, alloy wheels have become a critical component across all segments, especially in two-wheelers, ranging from premium-level to entry-segment. Our legacy and expertise in Aluminium Light Weighting Precision Solutions will support the development of high pressure die casted alloy wheels for two-wheeler. Our partnership with KYSK will facilitate us with critical technical assistance and know-how, helping us meet the required standards and manufacture the best in class products for our Identified Customer.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.