Rs 1,429.81 crore order book: This micro-cap stock under Rs 100 hits 5 per cent upper circuit on stellar quarterly results!
The stock is up by 24 per cent in 15 days and over 45 per cent in 1 month.
Today, one of the Top Gainers on BSE, shares of Oriental Rail Infrastructure Ltd zoomed 5 per cent upper circuit to Rs 63.68 per share from its previous closing of Rs 60.65. The shares of the company saw a spurt in volume by more than 4.73 times on BSE. At the closing bell, shares of the company were trading at Rs 62.40 per share, up 2.89 per cent.
The company's announcement of its Quarterly Results and order book was the catalyst behind the sudden surge in the stock price. Details below:
According to the quarterly results, the net sales skyrocketed by 131 per cent to Rs 92.81 crore and net profit increased by 46 per cent to Rs 5.44 crore in Q1FY24 compared to Q1FY23. The net sales increased by 88.37 per cent from Rs 172.60 crore in FY22 to Rs 325.13 crore in FY23. The company reported a net profit of Rs 3 crore in FY23 compared to a net profit of Rs 16 crore in FY22.
Additionally, Oriental Rail Infrastructure announced that the company along with its subsidiary company (Oriental Foundry Private Ltd) is having total orders in hand of Rs 1,429.81 crore.
Want more insightful stories along with recommendations?
Get a 3-month subscription to experience the power of our flagship DSIJ Magazine (online edition) for just Rs 800/- Click here to subscribe now
Oriental Rail Infrastructure Ltd (BSE Scrip Code: 531859) is engaged in the manufacturing, buying, and selling of all types of recron, seat & berth, & compreg boards and is also engaged in trading timber woods and all its products.
The stock is up by 24 per cent in 15 days and over 45 per cent in 1 month. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.