Back-to-back upper circuits: This electric equipment stock rallied 95 per cent in September, so far!

The company’s turnover increased ten times in the first quarter of 2022 from Rs 3 crore in 2021 to Rs 29 crore. As of June 30, 2022, the company’s order book stands at Rs 81.30 crore, which the company plans to deliver in the next two quarters

The shares of RMC Switchgears are on a solid roll in September! The scrip has hit back-to-back upper circuits over the last two weeks, going from strength to strength. Month-to-date, the scrip has rallied 95 per cent while year-to-date, it furnished astronomical returns of 241 per cent.   

On Thursday, the shares of this company froze at 5 per cent to record a fresh 52-week high of Rs 82.25 per share on BSE.    

RMC Switchgears Limited is an ISO 9001:2008 certified company, headquartered in the pink city of India (Jaipur). Established in 1994 with the name - RFH Metal Castings Private Limited, the company was spread across a 500 sq ft area only. Now, RMC is the largest electrical enclosure manufacturer in the country with 8,00,000 sq ft of world-class, having more than 45 million installations nationwide to date. RMC is the first BIS recognised testing laboratory in the country.   

The company is primarily engaged in the business of switchgear engineering, and ECI contracts for the power distribution/transmission sector along with PVC marble and solid surface.  

The company’s turnover increased ten times in the first quarter of 2022 from Rs 3 crore in 2021 to Rs 29 crore. As of June 30, 2022, the company’s order book stands at Rs 81.30 crore, which the company plans to deliver in the next two quarters.    

On August 23, 2022, the company announced the receipt of an order worth Rs 10.46 crore from Andhra Pradesh Utility. The company also added that the supplies will be made within the next two quarters.  

Investors should keep this buzzing stock on their watchlist and follow the action in the coming months.