This Tata Motors-backed auto ancillary shares hit 20% upper circuit limit; what analysts say
The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs).
- Jul 31, 2025,
- Updated Jul 31, 2025 4:22 PM IST
Shares of a small-cap auto ancillary company, backed by Tata Motors Ltd, registered a sharp uptick on Thursday, dodging the volatility in domestic benchmarks. The company is Automobile Corporation of Goa Ltd (ACGL) and its stock touched its 20 per cent upper price band of Rs 2,166.35.
It witnessed high trading volume along with the price action as around 16,000 shares changed hands on BSE. The figure was higher than the two-week average volume of 1,347 shares. Turnover on the counter came at Rs 3.46 crore, commanding a market capitalisation (m-cap) of Rs 1,319.01 crore.
On the earnings front, the company's net profit rose 28.74 per cent to Rs 23.07 crore in the June 2025 quarter (Q1 FY26) as against Rs 17.92 crore in the corresponding period last year. Revenue from operations climbed 26.11 per cent to Rs 256.41 crore in Q1 FY26 from Rs 203.32 crore in the year-ago period.
Technically, support on the counter could be seen in the Rs 2,066-2,000 range while resistance may be found in the Rs 2,254-2,300 zone.
According to Sebi-registered independent analyst AR Ramachandran, "Automobile Corporation's stock price is bullish but overbought on daily charts with next resistance at Rs 2,254. Investors should consider booking profits as a daily close below the support of Rs 2,066 could lead to a downward target of Rs 1,763 in the near term."
Jigar S Patel, Senior Manager – Technical Research Analyst at Anand Rathi, observed that support could be seen at Rs 2,000 and immediate resistance at Rs 2,300. A sustained move above Rs 2,300 could push the stock towards Rs 2,400, with the near-term trading range seen between Rs 2,000 and Rs 2,400.
The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 81.77. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The stock has a price-to-earnings (P/E) ratio of 28.30 against a price-to-book (P/B) value of 5.60, BSE data showed. Earnings per share (EPS) stood at 76.54 with a return on equity (RoE) of 19.80. According to Trendlyne data, ACGL has a one-year beta of 0.9, indicating low volatility.
As of June 2025, Tata Motors held a 48.98 per cent stake in the company. Meanwhile, Indian equity indices slipped today amid increased volatility, following US President Donald Trump's announcement of a 25 per cent tariff on Indian goods, which weighed on investor sentiment.
Shares of a small-cap auto ancillary company, backed by Tata Motors Ltd, registered a sharp uptick on Thursday, dodging the volatility in domestic benchmarks. The company is Automobile Corporation of Goa Ltd (ACGL) and its stock touched its 20 per cent upper price band of Rs 2,166.35.
It witnessed high trading volume along with the price action as around 16,000 shares changed hands on BSE. The figure was higher than the two-week average volume of 1,347 shares. Turnover on the counter came at Rs 3.46 crore, commanding a market capitalisation (m-cap) of Rs 1,319.01 crore.
On the earnings front, the company's net profit rose 28.74 per cent to Rs 23.07 crore in the June 2025 quarter (Q1 FY26) as against Rs 17.92 crore in the corresponding period last year. Revenue from operations climbed 26.11 per cent to Rs 256.41 crore in Q1 FY26 from Rs 203.32 crore in the year-ago period.
Technically, support on the counter could be seen in the Rs 2,066-2,000 range while resistance may be found in the Rs 2,254-2,300 zone.
According to Sebi-registered independent analyst AR Ramachandran, "Automobile Corporation's stock price is bullish but overbought on daily charts with next resistance at Rs 2,254. Investors should consider booking profits as a daily close below the support of Rs 2,066 could lead to a downward target of Rs 1,763 in the near term."
Jigar S Patel, Senior Manager – Technical Research Analyst at Anand Rathi, observed that support could be seen at Rs 2,000 and immediate resistance at Rs 2,300. A sustained move above Rs 2,300 could push the stock towards Rs 2,400, with the near-term trading range seen between Rs 2,000 and Rs 2,400.
The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 81.77. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The stock has a price-to-earnings (P/E) ratio of 28.30 against a price-to-book (P/B) value of 5.60, BSE data showed. Earnings per share (EPS) stood at 76.54 with a return on equity (RoE) of 19.80. According to Trendlyne data, ACGL has a one-year beta of 0.9, indicating low volatility.
As of June 2025, Tata Motors held a 48.98 per cent stake in the company. Meanwhile, Indian equity indices slipped today amid increased volatility, following US President Donald Trump's announcement of a 25 per cent tariff on Indian goods, which weighed on investor sentiment.