Wheels India shares soar over 6% to 52-week high on inking technical agreement with South Korean firm

The stock was trading 4.13% higher at ₹889.15 per equity share, as of 2:03 pm.

This comes after the auto components manufacturer signed a significant technical agreement with the South Korean firm, SHPAC, for its hydraulic cylinder business.

Under the agreement, there will be a technology transfer in manufacturing, Wheels India said in a regulatory filing.

The company has identified hydraulic cylinders as one of its strategic growth areas, and expects the pact to drive growth in this segment.

Commenting on the development, Srivats Ram, MD, Wheels India, said: “It has been our stated intent to focus and grow the hydraulic cylinder business significantly over the next few years. We believe this business segment has the potential to be an important growth driver for Wheels India globally, going forward...We expect to leverage the technology transfer by accessing existing customers and will continue to invest in the hydraulic cylinder business as opportunities arise.”

Srivats further said that the firm’s technology transfer agreement with SHPAC, a leading manufacturer of hydraulic cylinders in South Korea, is expected to create new growth opportunities for Wheels India in the global hydraulic cylinder industry.

The technology transfer is expected to stimulate the firm’s drive to grow the business over the next few years, he added.

Wheels India's stock performance

The share has been in focus, surging 12.02% over the week and 22.28% over the month. It has advanced 47.82% over a period of six months. On a year-to-date basis, the scrip has risen 32.54%.

The stock touched a year’s low of ₹543.60 per equity share on March 3, 2025.

Wheels India's total market capitalisation stood at ₹2,189.20 crore, as of September 29, 2025, according to data on the NSE.

Q1 results

The manufacturer’s net profit surged 4% year-on-year (YoY) to ₹26.44 crore in the June quarter of FY26, compared to ₹25.37 crore in the corresponding quarter of the previous fiscal year.

Its revenue from operations increased by 9% YoY to ₹1,187 crore during the quarter under review, as against ₹1,088 crore recorded in Q1FY25.

During the quarter, its export revenue crossed the ₹300 crore mark.