Bengaluru, Nov. 20 -- During Thursday's trading session, shares of one of the leading manufacturers of automotive components in India surged nearly 7 percent on the stock exchanges, after the company announced that the penalty proceedings for a total demand of Rs. 126 crores have been dropped.

At 10:37 a.m., shares of Omax Autos Limited were trading in green at Rs. 95 on BSE, up by around 1 percent, compared to its previous closing price of Rs. 94.3, with a market cap of Rs. 203 crores. The stock has delivered negative returns of more than 14 percent in one year, and has fallen by around 24 percent in the last one month.

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According to recent regulatory filings with the stock exchanges, Omax Autos Limited has provided an ...