1300 per cent returns: This multibagger micro-cap stock acquires a new manufacturing facility; trades at a new 52-week high level in Friday's session!
The scrip witnessed massive spurt in volume by more than 1.2 times
On Friday, shares of Sprayking Agro Equipment zoomed 4.97 per cent to trade at a new 52-week high level of Rs 185.75 apiece on BSE. The scrip witnessed massive spurt in volume by more than 1.2 times.
Sprayking Agro Equipment Limited has successfully acquired a new manufacturing facility located in Jamnagar, Gujarat. This state-of-the-art unit will be dedicated to the production of brass and forging components/parts, similar to the products manufactured at the company's existing facility. Spanning an extensive area of 3,000 square meters, this facility has been acquired on a rental basis from a third-party provider.
With the addition of this new manufacturing facility, Sprayking Agro Equipment Limited is set to fortify its position in the market. The company remains committed to its valued customers and recognizes the trust and confidence they have placed in its manufacturing capabilities. As part of this commitment, the company aims to produce cost-effective components/parts, ensuring that customers receive high-quality products at competitive prices.
Recently, the company had announced that it has completed acquisition of Narmada Brass Industries, a firm operating in a closely related field, by investing Rs 5.10 crore for 51 per cent stake in company vide partnership deed.
In partnering with Narmada Brass, the company aims to utilize their expertise, resources, and capabilities to enhance their offerings and explore new opportunities. The acquisition is expected to grant the company its own manufacturing plant, enabling an increase in turnover, infrastructure, and customer base. The investment is anticipated to bring numerous benefits to both Sprayking and Narmada Brass.
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Spray King Agro Industries is a leading company in the agricultural sector that specializes in the manufacturing and distribution of innovative crop protection solutions and brass items like brass sanitary fitting, brass agricultural item etc.
The stock has witnessed significant buying activity as it has given multibagger returns of more than 1300 per cent in just 1 year. Keep a close eye on this trending multibagger stock.
Disclaimer: The article is for informational purposes only and not investment advice.