The stock had outperformed the market over the past one month, rising 27.23% compared with 3.78% decline in the Sensex.

The scrip outperformed the market in past one quarter, gaining 39.56% as against Sensex's 5.77% rise.

The scrip had also outperformed the market in past one year, climbing 3.57% as against Sensex's 4.33% fall.

On the technical front, the stock's daily RSI (relative strength index) stood at 79.55. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 188.53, 179.63 and 182.40, respectively.

The board of Atul Auto on 8 October 2022 approved raising upto Rs 115 crore through issue of fully convertible warrants. The company will allot 50,50,505 warrants to Vijay Kishanlal Kedia (non-promoter); 6,56,565 warrants to Khushbu Auto (promoter); and 1,01,010 warrants to Jayantibhai Jagjivanbhai Chandra (promoter).

Each warrant is convertible into, or exchangeable, at an option of proposed allottee, within a maximum period of 18 months from the date of allotment of warrants into equivalent number of fully paid up equity share of the company of face value of Rs 5 each at a price of Rs 198 each.

Post conversion of warrants into equity shares, Vijay Kishanlal Kedia will hold 18.20% stake in the company, while Khushbu Auto will hold 2.37% stake. Jayantibhai Jagjivanbhai Chandra's stake will dilute to 5.23% from 6.16% currently.

As on June 2022, Kedia Securities held 3,21,512 shares, or 1.47% stake, in the company.

Atul offers complete range of 3-wheeler products across the fuel range - diesel, petrol, CNG, LPG and electric.

On a consolidated basis, Atul Auto reported net loss of Rs 3.65 crore in Q1 June 2022 as against net loss of Rs 6.21 crore in Q1 June 2021. Net sales rose 233.24% to Rs 104.57 crore in Q1 June 2022 over Q1 June 2021.

The company's total three-wheelers sales jumped 20.15% year-on-year to 2,254 units in September 2022.