Promoters bought 4,58,241 shares & 5:1 Stock Split: Multibagger penny stock under Rs 55 – Bags new orders from ITD Cementation India Ltd

The stock gave multibagger returns of 500 per cent in 1 year and a whopping 1,960 per cent in 3 years.

Today, shares of Trishakti Industries Ltd hit a 5 per cent upper circuit to Rs 54.81 per share from its previous closing of Rs 52.20. The stock’s 52-week high is Rs 70.34 and its 52-week low is Rs 6.01. The shares of the company saw a spurt in volume by more than 4 times on BSE.

Trishakti Industries Limited announced that the company have secured a contract with ITD Cementation India Limited to supply and deploy heavy industrial equipment on a long-term rental basis for the Adani Renewable Energy worksite. This contract signifies Trishakti's ability to support large-scale industrial projects across India and is expected to have a positive impact on the company's financial performance. It also marks a significant expansion for Trishakti in the heavy equipment rental business, and they are committed to providing exceptional service to their clients. The company has plans for further growth in this sector, solidifying its presence in the industry.

Additionally, the company has been awarded a long-term rental contract to deploy new heavy industrial equipment for Jindal Ferrous Ltd (part of the Jindal Group). This signifies our ability to support major industrial projects across India, with positive financial implications.

Also Read: 2:1 bonus share; 10:1 stock split in FY24: Multibagger penny stock at Rs 1.64 - Converts loans into shares & acquires full control of insurance subsidiary!

Earlier, shares of the company ex-traded stock split/sub-division of equity shares of the company from the face value of Rs 10 to the face value of Rs 2 per share. The ex-date for the stock split was Tuesday, January 16, 2023. Furthermore, the company announced a major Rs 600 crore joint venture with PT Tubular Services Indonesian to build a cutting-edge seamless pipe plant. This strategic partnership, aiming to tap into rising demand for high-quality pipes, promises expanded operations, new product lines, enhanced market position, and significant shareholder value.

Trishakti Industries Limited provides infrastructure and Oil & gas exploration services. The company engages in multiple business sectors including logistics and infrastructure, oil and gas, food-related items, and agency services. Trishakti Industries serves customers worldwide.

The company has a market cap of Rs 81 crore with a 3-year stock price CAGR of 170 per cent. In its Quarterly Results and annual results, the company reported positive numbers. The promoters of the company bought a total of 4,58,241 shares* from April 01, 2023 to May 17, 2024 (*adjusted post stock split). The stock gave multibagger returns of 500 per cent in 1 year and a whopping 1,960 per cent in 3 years. Investors should keep an eye on this penny stock.

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