52-week high alert: Shares of this micro-cap company surged over 7 per cent after receiving an order worth Rs 31 crore!

The stock gave 50 per cent returns in just 1 month and over 495 per cent in 3 years.

On Tuesday, one of the Top Gainers on BSE, shares of Rajoo Engineering zoomed 7.89 per cent to an intraday high of Rs 40.30 per share. At 03:30 pm. Shares of the company ended the trading session in the green, up 6 per cent to Rs 39.60 per share.   

The reason behind the sudden rise in the stock price is that the company has received an order from an international entity (Europe) for the supply of an extrusion machine. The order is worth Rs 31 crore and will be completed in 12 months from LOI.   

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Rajoo Engineers Limited manufactures plastic-extrusion machinery in Gujarat. The company designs and manufactures machines and offers customised solutions as per customers’ requirements. The shares of the company saw a spurt in volume by more than 4 times on BSE.   

The company reported positive numbers in its Quarterly Results and annual results. The company is almost debt-free and its current debt is just 1.52 crore which is just 0.62 per cent of its market cap of Rs 245 crore.   

The stock gave 50 per cent returns in just 1 month and over 495 per cent in 3 years. Investors should keep an eye on this micro-cap stock.