Mukul Agrawal’s portfolio multibagger aerospace & defence stock to keep under radar as approved floor price for QIP as Rs 13,894.42 per equity share!
The stock gave multibagger returns of 145 per cent in just 1 year, 1,265 per cent in 3 years and a whopping 9,125 per cent in 5 years.
Today, shares of PTC Industries Ltd gained 1.50 per cent to Rs 14,999.95 per share from its previous closing of Rs 14,779.90 per share. The stock’s 52-week high is Rs 15,650 and its 52-week low is Rs 4,473.40.
Under the approval of the board of directors on July 13, 2024, and the subsequent shareholder approval on August 8, 2024, the Listing Committee of PTC Industries Limited convened on August 28, 2024, to address the Qualified Institutional Placement (QIP). Key decisions included the approval and adoption of the preliminary placement document and application form, authorization to open the QIP issue to eligible institutional buyers, and the determination of the floor price at Rs 13,894.42 per Equity Share based on SEBI ICDR Regulations. The QIP aims to raise capital through the issuance of Equity Shares.
Additionally, the company has made a significant stride in its manufacturing capabilities with the acquisition of a Hot Rolling Mill. This strategic move positions the company as a global leader in the titanium industry. The Hot Rolling Mill, acquired from the United States, will be integrated into Aerolloy Technologies Limited's (ATL) upcoming Strategic Materials Technology Complex in Lucknow. This vertical integration will enable ATL to offer a comprehensive range of titanium alloy products, including ingots, billets, bars, rods, castings and now plates and sheets. The ability to produce high-quality titanium alloy plates and sheets, primarily for aerospace and defence applications, is a major milestone for PTC Industries and its subsidiary. The thinner titanium sheets, which are essential for applications like aircraft wings and marine engineering, further solidify the company's position in the market. This acquisition demonstrates PTC Industries' commitment to innovation and technological advancements in the titanium industry.
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About the Company
PTC Industries Limited is a global leader in manufacturing precision metal components for critical and supercritical applications in sectors like defence, oil & gas and marine. They specialize in producing castings, machined components, and fabricated parts using a wide range of advanced materials, including titanium alloys, stainless steel and nickel-based alloys, to meet the stringent demands of these industries. The company has a market cap of Rs 20,000 crore and reported positive numbers in its Quarterly Results (Q1FY25) and annual results (FY24).
An ace investor, Mukul Agrawal owns a 1.16 per cent stake as of June 2024 and DIIs increased their stake to 1.25 per cent in June 2024 compared to 0.44 per cent in March 2024. The stock gave multibagger returns of 145 per cent in just 1 year, 1,265 per cent in 3 years and a whopping 9,125 per cent in 5 years. Investors should keep an eye on this aerospace defence stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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