ASK Automotive Surges 4% After Forging Joint Venture with Germany's TDH for Sunroof Cable Manufacturing
By Ankur Chandra | Published at: Jun 26, 2025 04:23 PM IST
Gurgaon, June 26, 2025: Shares of ASK Automotive Ltd (NSE: ASKAUTOLTD, BSE: 544022) experienced a notable increase of 4.00% on Thursday, closing at ₹520.95. This surge followed the company’s announcement of a significant joint venture (JV) agreement with Germany-based T.D. Holding GMBH (TDH) for the manufacturing of sunroof control cables and helix cables for passenger vehicles in India.
This disclosure has been made under Regulation 30 of SEBI (LODR) Regulations, 2015, in compliance with SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The stock also hit a new 52-week high of ₹526.65 during today’s trading session, reflecting strong investor confidence in the new strategic direction.
Key Market Snapshot (As of 3:30 IST, June 26)
| Metric | Value |
|---|---|
| Last Traded Price | ₹520.95 |
| Change | +₹20.05 (+4.00%) |
| Day’s Range | ₹505.50 – ₹526.65 |
| Traded Volume | 8.61 lakh shares |
| Traded Value | ₹44.67 crore |
| 52-Week High | ₹526.65 (Today) |
| 52-Week Low | ₹333.30 |
| Total Market Cap | ₹10,270.14 crore |
| P/E Ratio (Adjusted & Symbol) | 40.91 |
| Face Value | ₹2 |
| VWAP | ₹518.71 |
| Free Float Market Cap | ₹2,158.13 crore |
| Buy Quantity | 25,559 |
| Sell Quantity | 91,012 |
Joint Venture Details
Under Regulation 30 of SEBI (LODR) Regulations, ASK Automotive confirmed that it has formally entered into a joint venture agreement (JVA) with TDH as of June 26, 2025. The new JV entity, which will be incorporated shortly, will specifically focus on the manufacture, marketing, and sale of sunroof control and helix cables for passenger vehicles in the Indian market.
Key Terms of the JV Agreement (JVA)
| Particulars | Details |
|---|---|
| Shareholding in JV Co. | ASK: 49%, TDH: 51% |
| Board Composition | ASK: 2 Directors, TDH: 3 Directors |
| Business Scope | Sunroof and helix cables for OEMs and Tier-1 suppliers |
| Tech Transfer | TDH to provide technical know-how |
| Equity Issue | Face value of ₹10 per share |
| Related Party Transaction? | No |
| Conflict of Interest? | None reported, with two common directors |
Strategic Context of The Deal
This strategic partnership is expected to significantly enhance ASK Automotive’s product portfolio, enabling it to capitalise on the rapidly growing demand for premium vehicle features in the Indian passenger vehicle market. Sunroofs, once a luxury feature, are becoming increasingly popular across various car segments, driving demand for their components.
This agreement comes shortly after ASK Automotive’s successful listing in November 2023. The company’s move into specialised components, such as sunroof control cables, aligns with the rising demand from OEMs (Original Equipment Manufacturers) for advanced automotive systems. This could further solidify ASK Automotive’s position as a diversified player within India’s dynamic auto components sector.
What’s Next For ASK Automotive?
ASK Automotive will now focus on incorporating the new JV entity and setting up manufacturing operations with TDH’s technical support. Investors will closely monitor production timelines, initial client wins from OEMs, and revenue contributions from the JV. This move also signals ASK’s strategic shift toward high-value, tech-driven components in India’s evolving passenger vehicle market.
About the Company
ASK Automotive Ltd, listed on both NSE and BSE, operates primarily in the Auto Components & Equipment segment. Headquartered in Gurgaon, it serves multiple OEMs across India and continues to expand its product offerings through partnerships and technology collaborations.
REF: https://nsearchives.nseindia.com/corporate/8448091598_26062025152452_stxintimationjvsigned.pdf
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