India, March 27 -- Omax Autos is no exception as it entered the list of increasing numbers of Indian manufacturing companies that are targeted by advanced cyber threats. After the initial suspicions of the IT department of the company being a targeted ransomware attack were verified on March 26, the company officially notified the exchanges about the breach.

Omax Autos witnessed a volatile intraday session, opening at Rs97.69 and oscillating between a high of Rs98.99 and a low of Rs96.01 following the confirmation of a targeted ransomware attack.

While the market reaction was immediate, with the stock dipping 1.7% in the opening ten minutes of trade, it staged a surprising mid-morning recovery as "buy-on-dips" behavior emerged. This mi...