Penny Stock Under Rs 35 From Auto Components & Equipments Industry, Rockets 10 Per Cent with 3 Times Volume Spurt Today – Do You Own It?

Penny Stock Under Rs 35 From Auto Components & Equipments Industry, Rockets 10 Per Cent with 3 Times Volume Spurt Today – Do You Own It?

Kiran Shroff
/ Categories: Trending, Penny Stocks

The stock is up by 79.3 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 a 10 per cent upper circuit to an intraday high of Rs 32.27 per share from its previous closing of Rs 29.34. The 52-week high of the stock is Rs 54.33 and the 52-week low of Rs 18. The shares of the company saw a spurt in volume by more than 3 times with 4,00,000 shares quantity traded on BSE.

Pritika Auto Industries Ltd, established in 1980, is a leading manufacturer of tractor and automobile components within the Pritika Group of Industries. They specialise in machined castings and a wide range of parts for tractors and commercial vehicles, making them a one-stop shop for various automotive and engineering needs. The company remains a preferred partner for top OEMs, securing a Rs 24 crore annual order from a leading multinational tractor manufacturer and a Rs 36 crore annual order from a prominent domestic tractor manufacturer.

Pritika Auto Industries Limited has achieved a significant milestone by dispatching a record-breaking 3,550 tons in July 2024. This accomplishment reflects the company's operational excellence, strategic planning, and dedicated workforce. A robust agricultural sector, coupled with increased demand from domestic OEMs, has fueled this growth. Pritika Auto Industries' strong market position, built on long-term OEM relationships and timely deliveries, combined with efficient production and distribution processes, has been instrumental in achieving this remarkable result.

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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 500 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 79.3 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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