Multibagger from its 52-week low: This small-cap company receives a mega tender from Ministry of Railways!
The company has reported excellent numbers in its quarterly results and annual results.
Hilton Metal Forging Ltd informed that it has received the first order from a private company which is one of the 7 manufacturers who were awarded by the Ministry of Railways. The order is to supply 500 sets of railway wheels which they intend to manufacture by June 2023 end. This company has also given a letter of intent for supply of 6000 such wheel set assemblies per year, which would have a value of approx. Rs 135 crore per year.
Additionally, the company has orders from railways and is now regularly supplying to railways and the consignments are duly inspected and approved by “RITES”.
The Government of India/Ministry of Railways raised a demand for 90,000 wagons and awarded 72,358 wagons to seven manufacturers in August 2022. This growth is a historical one and is going to set the industry on a high growth trajectory. This demand translates to a requirement of more than 3 lakh wheel set assemblies.
Stock Action: On Friday, shares of Hilton Metal Forging zoomed 5 per cent upper circuit to Rs 129.55 per share from its previous closing of Rs 123.40. The stock gave multibagger returns of 481.46 per cent from its 52-week low of Rs 22.28 per share. At 3:30 pm, shares of the company ended the day in green, up 3.73 per cent to Rs 128 per share.
Hilton Metal Forging Ltd is primarily engaged in manufacturing steel forgings. It also caters to the needs of the oil and gas, refineries and pharmaceutical industries. Hilton Metal Forging Limited is the first MSME company to develop indigenous solid forged railway wheels. Today shares of the company saw a spurt in volume by more than 2 times on BSE.
Hilton Metals Forging is a Small-Cap company with a 3-yearCAGR of 137 per cent. The company has reported excellent numbers in its Quarterly Results and annual results.