Multibagger penny stock at Rs 43 with 1,890 per cent returns: This micro-cap company secures first-ever sample order from Flobal Corporation
The stock gave multibagger returns of 130 per cent in just 1 year and a whopping 1,890 per cent in 5 years.
Sprayking Limited, a prominent brass manufacturer in India, has secured its first-ever sample order for hose nozzles from Flobal Corporation, a distinguished Japanese company with over a century of experience in supplying piping and tubing components. Flobal Corporation is a well-established supplier in the global marketplace, boasting a vast catalogue of over 2,00,000 plumbing parts and a reputation for delivering top-quality products. This partnership signifies a significant milestone for both companies as Sprayking Limited, a leader in brass manufacturing, will leverage its expertise to produce high-quality hose nozzles that meet Flobal Corporation's strict standards of excellence.
Additionally, 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 Rs 224 crore. According to the Quarterly Results, net sales increased by 520 per cent to Rs 32.65 and net profit increased by 1,062 per cent to Rs 3.37 crore in Q3FY24 compared to Q3FY23.
On Tuesday, shares of Sprayking Ltd surged 16.21 per cent to an intraday high of Rs 43 per share from its previous closing of Rs 37. The stock’s 52-week high is Rs 60.04 and its 52-week low is Rs 18.05. The stock gave multibagger returns of 130 per cent in just 1 year and a whopping 1,890 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.
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