Talbros Automotive Components Ltd (TACL) stock surged after its joint venture company secured an order from a European OEM.

The stock has hit the upper circuit on the NSE trading at ₹294.60, higher by 4.99 per cent.

The company’s joint venture, Marelli Talbros Chassis Systems Pvt Ltd (MTCS), bagged the multi-year contract valued at ₹1,000 crore to be executed in eight years commencing from Q4 FY25.

The order is centred on the supply of suspension arms tailored for conventional internal combustion engine (ICE) vehicles and electric vehicle (EV) platforms for EMEA and NAFTA regions. The production would be carried from the Pune plant of MTCS for which a capex investment of ₹65 crore was envisaged in FY25.