52-week high alert: Heavy buying in this tractor manufacturing stock as it enters into a master service agreement with Solectrac Inc. USA!
The stock is up by 22 per cent in just 1 month and over 60 per cent in 6 months.
VST Tillers Tractors Ltd informed that the company has entered into a master service agreement with Solectrac Inc., USA to jointly develop an electric power tiller and other agricultural machineries.
On Friday, one of the Top Gainers on BSE, shares of VST Tillers Tractors Ltd jumped 13.66 per cent to make a new 52-week high of Rs 3,790 per share from its previous closing of Rs 3,334.25. At the closing bell, shares of the company were trading at Rs 3,543.25 per share, up 6.26 per cent with a spurt in volume by more than 4.83 times on BSE.
VST Tillers Tractors Limited deals in petroleum products and automotive marketing and after-sales service. The company also manufactures and promotes products for Mitsubishi Group, Japan. The company initially introduced as "VST Mitsubishi", has now expanded its presence under the brand "VST SHAKTI" with a range of compact and agricultural tractors.
According to the financials, VST Tillers Tractors has a market cap of over Rs 3,000 crore. The company is almost debt-free and has been maintaining a healthy dividend payout of 20 per cent. In the Quarterly Results, the net sales increased by 4.25 per cent to Rs 246 crore and net profit skyrocketed 230 per cent to Rs 33 in Q1FY24 over Q1FY23. The company also reported positive numbers in the annual results.
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The stock is up by 22 per cent in just 1 month and over 60 per cent in 6 months. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.