This micro-cap stock surged 7 per cent as it receives order worth Rs 5.70 crore!
The stock is up by 22 per cent in just 1 month and over 30 per cent in 3 months.
MEERA Industries Limited, the leading manufacturer of twisting machines for the Technical Textile segment, is pleased to announce the receipt of a significant order worth 5.7 Cr. The order is for MEERA's highly acclaimed Heavy Duty Ring Twister Machine and comes from a renowned company operating in the Technical Textiles industry. With a proven track record of expertise in twisting machine manufacture, MEERA Industries has established itself as a trusted leader in the field. This substantial order serves as a silent confirmation of the industry's recognition and acceptance of MEERA's technological prowess and superior solutions.
The Heavy Duty Ring Twister Machine, one of MEERA Industries' flagship products, is renowned for its durability, precision, and advanced features. Designed to meet the demanding requirements of the technical textiles industry, this machine delivers exceptional performance, increased efficiency, and enhanced productivity. MEERA's unwavering commitment to research and development enables the company to consistently provide cutting-edge solutions that empower customers to stay ahead in the competitive market.
"We are delighted to receive this significant order for our Heavy Duty Ring Twister Machine," said Mr Dharmesh Desai, CMD of MEERA Industries Limited "It reinforces our position as a leading provider of twisting machines and demonstrates the industry's confidence in our technological capabilities. MEERA Industries remains dedicated to driving innovation and exceeding customer expectations."
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On Wednesday, shares of Meera Industries Ltd gained 7.03 per cent to an intraday high of Rs 52.85 per share from its previous closing of Rs 49.38. At the closing bell, shares of the company ended the trading session in the green, up 1.24 per cent to Rs 49.99 per share.
According to the financials, Meera Industries has a market cap of Rs 53.38 crore. The company is almost debt free and the current debt of the company is Rs 1.01 crore which is just 1.89 per cent of its market cap.
The shares of the company saw a spurt in volume by more than 2.26 times on BSE. The stock is up by 22 per cent in just 1 month and over 30 per cent in 3 months. Investors should keep an eye on this micro-cap stock.