Sundaram Clayton grants order to Sibar Auto Parts

Sundaram Clayton, Chennai, has placed an order with automotive component manufacturer Sibar Auto Parts to supply automobile castings (pipe and valve) worth Rs 3,00,000 per month on Wednesday. The stock, however, slipped on the bourses by 4.48%, and was trading at Rs 12.80 per share on the BSE. 
 
On a yearly basis the stock has yielded 16.36% returns and has underperformed the BSE Small-Cap index and the BSE Auto index. Meanwhile, the BSE Auto index slipped 0.18% to the 23,559 level. Mahindra and Mahindra was majorly contributing to the index losses and was trading lower by 0.82% at 1,349 per share.
 
Sibar Auto Parts manufactures and sells cylinders for two-wheelers in India. It provides two-stroke, four-stroke and blind-end cylinder blocks as well as air-cooled and water-cooled cylinder heads. The company was founded in 1983 and is based in Tirupati, Andhra Pradesh.