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Auto parts maker Pricol hit a fresh 52-week high price of Rs 166.20 in trade on Thursday. The precision-engineering technology firm's stock is already up 47 percent so far this year. The recent uptrend has come after Pricol entered into an agreement with France-based BMS PowerSafe, a part of the Startec Energy Group to manufacture Battery Management System (BMS) for electric vehicles across all segments. During their recent conference call, the Pricol management said the new product will help augment its sales in the EV portfolio of products.

A BMS, which is a battery management system, is eventually going to play the role of an engine in an electric vehicle as it is powered by batteries. So, the battery management system, which is hardware plus software put together will control the vehicle. Pricol getting into this space will help the firm get more orders from the EV segment firms. They, in any case, has orders from Tata Motors and others in the EV space.

Yet another positive trigger for the stocks is that Pricol has successfully reduced its borrowing. Their borrowing is now just about Rs 65 crore and in their conference call, they mentioned that the guidance is to become debt free over the next few months.

Coimbatore-headquartered Pricol is an automotive technology company that operates in Driver Information Systems and Sensors, and Telematics and Wiping Systems serving auto original equipment manufacturers (OEMs) in passenger and commercial vehicles space in both India and abroad.

First Published:Aug 18, 2022 5:10 PM IST