Penny Stock Under Rs 10 Hit Upper Circuit As Company Bags Order Worth Rs 15,00,00,000 From Titan Company Ltd
The stock is up by 26 per cent from its 52-week low of Rs 6.64 per share.
Ashapuri Gold Ornament Ltd is pleased to announce that it has secured a significant order for the supply of Antique Gold Jewellery from Titan Company Limited. This domestic contract, valued at approximately Rs 15 crore, requires Ashapuri to deliver the specified gold jewellery by the end of October 2024. The order aligns with Ashapuri's expertise in crafting exquisite antique gold jewellery, and it is expected to contribute substantially to the company's revenue and growth in the coming period.
On Monday, shares of Ashapuri Gold Ornament hit a 5 per cent upper circuit to Rs 8.37 from its previous closing of Rs 7.98 with a 4 times spurt in volume. The stock’s 52-week high is Rs 16.27 and its 52-week low is Rs 6.64.
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Ashapuri Gold Ornament Ltd is engaged in the business of wholesale trading of jewellery. The pieces of jewellery are manufactured on a job-work basis at Ahmedabad and Rajkot. According to the financials, this gems & jewellery company has a market cap of over Rs 270 crore and has delivered good profit growth of 76.8 per cent CAGR over the last 5 years. The company reported positive numbers in its Quarterly Results (Q1FY25) and annual results (FY24).
The stock is up by 26 per cent from its 52-week low of Rs 6.64 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.