1:1 bonus share & 5:1 stock split: Penny stock under Rs 20; Company bags export order worth Rs 50,00,000 from Dubai-based company
The stock gave multibagger returns of 565 per cent in 3 years and a whopping 1,100 per cent in 5 years.
Narmadesh Brass Industries Limited, a subsidiary of Sprayking Limited, has secured a significant export contract valued at Rs 50 lakh. This deal involves the supply of 100 tonnes of high-quality brass billets to a prominent Dubai-based company, with the final destination being China—a rapidly expanding market for brass components. This strategic order underscores the growing global footprint of Sprayking Limited and its subsidiary, as they capitalize on increasing international demand for precision-engineered brass products.
This milestone highlights the industry-leading expertise of Narmadesh Brass Industries Limited in manufacturing premium brass billets that meet stringent international quality standards. The deal not only reinforces the company’s reputation for excellence but also supports its parent company Sprayking Limited’s vision of becoming a dominant player in the global brass components industry. With this export order, the companies are well-positioned to further strengthen their presence in key international markets and drive long-term growth.
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Earlier, the company's shares ex-traded 1:1 bonus share issue, effectively a 100 per cent bonus, for its investors. The bonus shares became ex-tradeable on August 21, 2024. Additionally, the company underwent a 5:1 stock split, meaning each equity share with a face value of Rs 10 was divided into 5 equity shares with a face value of Rs 2 each. This stock split ex-traded on Friday, April 12, 2024.
Sprayking Limited, formerly Sprayking Agro Equipment Limited, has rebranded to reflect its broader business strategy and global ambitions. The company specializes in manufacturing brass components and parts, serving diverse industries worldwide. To drive growth, Sprayking has acquired a new manufacturing facility in Jamnagar, Gujarat, and a majority stake in Narmada Brass Industries. These strategic moves position the company for continued success in the global market.
The company has a market cap of over Rs 120 crore. The stock gave multibagger returns of 565 per cent in 3 years and a whopping 1,100 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.