Mukul Agrawal-backed multibagger defence stock rockets over 5 per cent as Board is likely to announce rights issue!
The stock gave multibagger returns of 270 per cent in just 1 year, 1,800 per cent in 3 years and a whopping 9,445 per cent in 5 years.
Today, shares of PTC Industries Ltd gained 5.53 per cent to an intraday high of Rs 15,600 per share from its previous closing of Rs 14,781.80 per share. The stock’s 52-week high is Rs 15,650 and its 52-week low is Rs 3,825
PTC Industries Limited, a leading Indian manufacturer of precision metal components for critical applications for over 60 years, is a major player in the aerospace and defence sector through its subsidiary Aerolloy Technologies. They are significantly expanding their capabilities by investing in a new, state-of-the-art facility on 50 acres of land in Uttar Pradesh. This new location will be fully integrated, housing a Titanium and Superalloy Mill to produce aerospace-grade materials and manufacture castings for domestic and international applications. Beyond aerospace, PTC Industries remains a key supplier of metal components across various industries like defence, oil & gas, and marine, with a strong market cap exceeding Rs 22,000 crore and recent positive financial results.
PTC Industries Ltd informed that a meeting of the Board of Directors of the company is scheduled to be held on Saturday, July 13, 2024, at 04:00 pm through video - a conferencing facility to inter alia consider and evaluate a proposal for raising funds, in one or more tranches, through permissible mode(s) and/or combination(s) thereof as may be considered appropriate, by way of issuance of any instruments or securities, through private placement, preferential issue, rights issue, qualified institutions placement or such other methods or combinations thereof as may be decided by the Board, subject to such approvals as may be required, and to transact other businesses with the permission of the Chairperson.
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Earlier, PTC Industries Limited, through its subsidiary Aerolloy Technologies Limited (ATL), successfully developed a cutting-edge casting technology for producing high-performance blades and vanes used in jet engines and industrial gas turbines. This achievement makes PTC the sole Indian company, and one of a select few globally, to possess this technology. Traditionally restricted to a handful of developed nations, this breakthrough represents a significant milestone for PTC in its pursuit of self-reliance (Dharma). The new technology enables the production of complex airfoils with intricate internal cooling channels and specialized microstructures, making PTC a major player in the manufacturing of these advanced metallurgical components.
An ace investor, Mukul Agrawal bought 1,67,000 shares and FIIs bought 5,51,688 shares in March 2024 compared to Nil shareholdings in March 2023. The stock gave multibagger returns of 270 per cent in just 1 year, 1,800 per cent in 3 years and a whopping 9,445 per cent in 5 years. Investors should keep an eye on this defence stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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