Defence Stock Under Rs 170 Hits Upper Circuit Today – Delivers Multibagger Returns in Just 1 Month – Do You Own It?
The company’s shares have delivered an impressive return of over 100 per cent to its shareholders.
Incorporated in 2018, Techera Engineering (India) Limited specializes in designing, manufacturing, and supplying precise tooling and components for the aerospace and defence industries. Today, the company’s shares gained significant traction from investors and hit the upper circuit.
The Small-Cap company offers a comprehensive product portfolio that includes assembly tooling, jigs, fixtures, maintenance, repair, and overhaul (MRO) tooling, as well as ground support equipment and precision-machined components tailored to meet the specific needs of these sectors.
A Key Supplier for Tata Advanced Systems
TechEra Engineering (India) is a key supplier for Tata Advanced Systems Limited (TASL), providing essential aerospace assembly tooling systems for the Tata Airbus C295 program. This collaboration highlights its dedication to delivering high-quality solutions that meet the stringent requirements of the aerospace and defence sectors.
Through the partnership with TASL, the company plays a vital role in the development and production of the C295 aircraft, enhancing India's defence capabilities. With a strong track record of excellence, TechEra is recognized for its precision engineering expertise and adherence to international quality standards.
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Share Performance
At the start of today’s trading session, TechEra Engineering opened at Rs 169.30 per share, compared to the previous day's closing of Rs 161.25 per share on the BSE. During the intraday session, the shares have hit the upper circuit. Finally, shares closed the day at around Rs 169.30 per share on the BSE. The current market capitalization stands at Rs 279.70 crore, and the stock has generated a multibagger return of over 100 per cent compared to the final IPO issue price of Rs 82 each or within a month.
Financial Performance
In FY24, the company reported a revenue of Rs 38.75 crore, up from Rs 26.43 crore in FY23. The operating profit increased to Rs 8.72 crore from Rs 4.12 crore, while the net profit rose to Rs 4.82 crore compared to Rs 1.31 crore, reflecting a significant 267 per cent YoY growth in profitability.
Disclaimer: The article is for informational purposes only and not investment advice.