36 per cent from its 52-week low & promoters increase stake: This micro-cap company receives order worth USD 500,000!

The stock’s 52-week high of Rs 105 and its 52-week low of Rs 73.9.

Mahickra Chemicals Ltd informed that the company has received an export order amounting to USD 500,000 (approx. Rs 4,16,09,425 as of December 02, 2023).

Mahickra Chemicals Limited produces and distributes chemical products. The Company offers reactive, acid, and direct dyes, as well as pigment powders, emulsions, synthetic food colours, and speciality chemicals. Mahickra Chemicals markets its products in India. As of September 2023, the promoters increased their stakes from 53.05 per cent to 53.84 per cent.

In a previous announcement, Mahickra Chemicals Ltd outlined its strategic diversification into speciality chemicals, pharmaceutical excipients, acid and pigment dyes driven by the promising growth potential in the dynamic Latin American markets. Recognizing the region's rising demand for these specialized products, the company aims to leverage this strategic shift to unlock significant value and fuel sustainable growth by targeting specific industries and expanding its offerings. This move positions, the company to capitalize on the promising opportunities presented by the Latin American landscape.

On Friday, shares of the company gained 2.29 per cent to Rs 100.50 per share with an intraday high of Rs 100.50 and an intraday low of Rs 97.50 per share. The stock’s 52-week high of Rs 105 and its 52-week low of Rs 73.9. The company reported positive numbers in its half-yearly results and annual results.

The company has a market cap of Rs 81.6 crore with a 1-year stock price CAGR of 85 per cent. The stock is up by 36 per cent from its 52-week low of Rs 73.9 per share.

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