98 Per Cent From Its 52-Week Low: Penny Stock Under Rs 40 From Auto Components & Equipments Industry, Hit Back-To-Back Upper Circuits; Do You Own It?
The stock is up by 98 per cent from its 52-week low of Rs 18 per share.
Today, one of the Top Gainers on BSE & NSE, shares of Pritika Auto Industries Ltd gained 5 per cent upper circuit to an intraday high of Rs 35.66 per share from its previous closing of Rs 33.97. The 52-week high of the stock is Rs 54.33 and the 52-week low of Rs 18.
Pritika Auto Industries Ltd., a cornerstone of the Pritika Group established in 1980, is a premier manufacturer of tractors and automotive components. Renowned for their expertise in machined castings and a diverse range of parts, they offer a comprehensive solution for the automotive and engineering industries. Their reputation as a trusted partner has solidified their position with leading OEMs, securing substantial annual orders from both multinational and domestic tractor manufacturers.
Pritika Auto Industries Limited has set a new benchmark by surpassing its previous record with a monumental dispatch of 3,550 tons in July 2024. This achievement underscores the company's exceptional operational capabilities, strategic foresight, and the unwavering commitment of its team. The thriving agricultural sector, coupled with the rising demand from domestic OEMs, has been a key driver behind this growth. Pritika Auto Industries' strong market presence, nurtured by enduring OEM partnerships and consistent delivery, in conjunction with optimized production and distribution systems, has been pivotal in securing this remarkable accomplishment.
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According to Quarterly Results, the company reported a total income of Rs 82.58 crore and a net profit of Rs 2.59 crore in Q4FY24 while in Q4FY23 the company reported a total income of Rs 88.63 crore and a net profit of Rs 2.70 crore. Similarly, in its annual results, the company reported a total income of Rs 343.71 crore and a net profit of Rs 16.85 crore in FY24 while in FY23 the company reported a total income of Rs 363.24 crore and a net profit of Rs 15.69 crore.
The company has a market cap of over Rs 570 crore. According to the shareholding pattern, the promoters of the company have 64.86 per cent stake, FIIs own 4.07 per cent and the public owns 31.08 per cent as of June 2024. The stock is up by 98 per cent from its 52-week low of Rs 18 per share. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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