Multibagger penny stock at Rs 41.45 with 1,600 per cent returns: This micro-cap company secures major order for 25 tonnes of brass rod worth Rs 15 million

The stock is up by 50 per cent from its 52-week low of Rs 27.72 and gave multibagger returns of over 1,600 per cent in 5 years.

Sprayking Limited, formerly Sprayking Agro Equipment’s Limited, announced securing a significant order worth Rs 15 million for 25 tonnes of brass rods from a new domestic client. This marks a milestone for the company and emphasizes its growth in the Indian market. The order aligns perfectly with the recent inauguration of Sprayking's state-of-the-art manufacturing facility in Jamnagar. This new facility, equipped with advanced machinery and technology, has significantly boosted the company's production capacity and efficiency. The investment in the new factory is a strategic step to meet the rising demand for brass rods while maintaining the highest quality standards.

Earlier, the shares of the company ex-traded stock split of equity shares in the ratio 2:1 i.e., sub-division /split of each equity share having a face value of Rs 10 each, fully paid-up into 5 equity shares having a face value of Rs 2 each fully paid-up. The record date for the stock split was Friday, April 12, 2024.  

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Sprayking Ltd, founded in 1980, is a manufacturer of various brass components and parts, including fittings, equipment for forging, transformer parts, and custom-made brass items. They also produce copper forgings, agricultural sprayer parts, garden fittings, and more, and export their products to countries around the world. The company has a market cap of over Rs 200 crore.

Today, shares of Sprayking Ltd gained 3.11 per cent to an intraday high of Rs 41.45 per share from its previous closing of Rs 40.20. The stock’s 52-week high is Rs 60.04 and its 52-week low is Rs 27.72. The stock is up by 50 per cent from its 52-week low of Rs 27.72 and gave multibagger returns of over 1,600 per cent in 5 years. Investors should keep an eye on this micro-cap stock.

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