Suprajit Engineering plans price hikes citing West Asia conflict
Business
Suprajit Engineering, one of the world's top control cable makers, is planning another round of price hikes this year.
The company says rising commodity costs, driven by conflict in West Asia, leave it no choice.
Founder and Chairman K Ajith Kumar Rai explained these increases will mainly roll out during the second and third quarters.
Suprajit stock up over 10%
Some price bumps have already started showing up for customers.
Even with tough competition and higher expenses, Suprajit is staying upbeat, thanks to recent GST changes that could boost India's auto sector.
The company has also expanded globally through mergers and big contracts in China, Morocco, and Mexico.
Its stock is up over 10% this past year, a sign investors are feeling good about where things are headed.