Amber Enterprises, Subros shares zoom as government announces mandatory AC driver cabins in trucks

Stocks such as Amber Enterprises and Subros zoomed on Tuesday after Union Minister Nitin Gadkari said trucks will need to have AC compartments for drivers.

Subros and Amber Enterprises shares saw double-digit percentage gains after the news. | Image: Reuters

Truck makers and related service providers' shares were in high demand on Dalal Street on Tuesday, a day after Union Minister Nitin Gadkari said trucks will need to have AC compartments for drivers. The stocks of Amber Enterprises — a company catering to the heating, ventilation and air conditioning industry — and Subros — a manufacturer of thermal products for automotive applications — staged double-digit percentage gains during the session.

Amber Enterprises shares surged as much as 13.2 per cent to Rs 2,384 apiece on BSE before finishing the day with a 7.8 per cent gain. Amber Enterprises is the primary manufacturer of roof-mounted ACs for buses in the country.

The minister said he had originally intended to introduce AC-equipped compartments for truck drivers from the day he took charge but there were some apprehensions about higher costs. He also said the industry will be given 18 months to implement the change.

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He also said truck drivers play a crucial role in a country's transport sector.

The Subros stock hit the 20 per cent upper circuit to register a 52-week high of Rs 434.5 apiece and closed at the same level.

Truck manufacturer stocks such as Tata Motors and Eicher Motors also saw strong buying interest. Tata Motors ended 3.2 per cent higher after scaling a seven-year high of Rs 584 apiece during the session.

Eicher Motors rose two per cent to Rs 3,565.4 apiece, and Ashok Leyland shares recovered much of their day's losses to settle 0.4 per cent lower for the day at Rs 167.4 apiece.

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