A Tata Motors Ltd. truck makes its way through traffic on a road in Bangalore, India. (Photographer: Namas Bhojani/Bloomberg)

Automotive Axles Shares Jump On Strong Demand Forecast

Automotive Axles Ltd. expects to maintain the 38 percent revenue growth rate it managed in the September quarter for the remainder of this and next year, according to N Muthukumar, president and whole-time director of the company.

The company expects "very, very strong demand" in the coming quarters driven by larger infrastructure spend by the government and a demand shift to larger trucks. Shares of the company jumped as much as 12.7 percent to a record high of Rs 1,195 per share, today.