Promoters bought 2,39,800 shares: Penny stock under Rs 2 in focus as company signs MoU worth Rs 1,200 crore with Government of Maharashtra

Promoters bought 2,39,800 shares: Penny stock under Rs 2 in focus as company signs MoU worth Rs 1,200 crore with Government of Maharashtra

Kiran Shroff
/ Categories: Trending, Penny Stocks

The stock also made a fresh 52-week high and up by 63.64 per share from its 52-week low of Re 0.88 per share.

Nibe Ordnance and Maritime Limited, formerly known as Anshuni Commercials Limited, has entered into a Memorandum of Understanding (MOU) with the Department of Industries, Government of Maharashtra. This agreement outlines plans to establish a shipyard infrastructure and crafts manufacturing facility in Ratnagiri at a projected investment of Rs. 1200 Crores. The implementation of this project is contingent upon obtaining necessary regulatory, legal, and environmental approvals, including land acquisition. The company will provide updates on any significant developments related to these matters as they progress.

Nibe Ordnance and Maritime Limited is a well-established company operating in the gems and jewellery industry for over three decades. With a strong commitment to ethical business practices and sound corporate governance, Nibe Ordnance and Maritime Limited has built a reputation for quality and reliability. The company specializes in the trading of polished diamonds, offering a diverse range of products to meet the needs of its customers. The promoters of the company bought 2,39,800 shares and increased their stake to 94.98 per cent in June 2024 compared to 75 per cent in June 2023.

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The stock was last traded on April 03, 2024, at Rs 1.44 per share hitting 5 per cent upper circuit. The stock also made a fresh 52-week high and up by 63.64 per share from its 52-week low of Re 0.88 per share. The company has a market cap of Rs 17 lakh. In its quarterly earnings, the company reported net sales of Rs 0.16 crore and net loss of Rs 0.12 crore. According to the shareholding pattern, the promoters of the company own a 94.98 per cent stake in the company and the rest 5.02 per cent is owned by public shareholders.

Disclaimer: The article is for informational purposes only and not investment advice. 

Also Read: 2:1 stock split & Rs 94,000 crore order book: President of India-backed multibagger defence stock to keep under radar as PAT jumps 76.6 per cent in Q1FY25

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