Hopes for a recovering auto industry buoyed car parts maker Sensata Technologies Holding in its market debut on Thursday, sending its shares up as much as 5.6 percent.
Sensate manufactures sensors for automakers, thermal circuit breakers for aircraft, temperature controllers for electric motors, and other industrial technology. In 2009 more than half of its revenue came from the auto industry.
"One of its biggest customers right now is Ford and Ford is cranking on all cylinders," said IPO Boutique Senior Managing Partner Scott Sweet.
Ford Motor Co's U.S. sales of cars and light trucks in February were 45.3 percent ahead of where they were a year ago.
Sensate manufactures sensors for automakers, thermal circuit breakers for aircraft, temperature controllers for electric motors, and other industrial technology. In 2009 more than half of its revenue came from the auto industry.
"One of its biggest customers right now is Ford and Ford is cranking on all cylinders," said IPO Boutique Senior Managing Partner Scott Sweet.
Ford Motor Co's U.S. sales of cars and light trucks in February were 45.3 percent ahead of where they were a year ago.
For details refer website : http://in.reuters.com/article/hotStocksNews/idINTRE62A31K20100312?pageNumber=1&virtualBrandChannel=0
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