Uniparts India Sees Marginal Dip Despite $1.2 Million Order Win for U.S. Subsidiary

18 Jan 2024 , 12:16 PM

Uniparts India shares see a slight decline in early trade on January 18, following a $1.2 million order win by its international subsidiary.

At the time of writing, the stock is trading at Rs 589, reflecting a 1.28% increase from the previous close.

Uniparts Olsen Inc., the wholly owned U.S.-based subsidiary, secured a $1.2 million order from Doosan Bobcat North America Inc. for construction equipment parts on January 17, 2024.

The award is contingent upon the execution of the purchase order.

Manufacturing of the parts will be carried out by the company’s units in India, with delivery to Uniparts Olsen Inc. for subsequent sale to Doosan Bobcat North America Inc.

The order is slated for execution within one year and is expected to escalate to $5 million over the next five years.

Uniparts India’s shares reached a 52-week high of Rs 722.15 and a low of Rs 501.60 on August 4, 2023, and March 16, 2023, respectively.

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