Multibagger penny stock at Rs 82.50: This engineering company bags new order worth Rs 67,26,000 from DRDO, Ministry of Defence

Shares of the company gave multibagger returns of 100 per cent from its 52-week low of Rs 35.20.

Ameya Precision Engineers Ltd informed the exchange (NSE – SM: AMEYA) that the company has received an order from Defence Research and Development Organization (DRDO)- Armament Research & Development Establishment {ARDE} a Government of India, Ministry of Defence for the supply Warhead Empty Assy – En (PCB-RudraM-III). The said receipt of the purchase order worth Rs 67,26,000 (inclusive of taxes) and the order will be completed on or before December 10, 2024.

Ameya Precision Engineers Limited is engaged in manufacturing high-end precision components (shafts, and other trim components) for the general engineering industry, focussing on valve and pump manufacturing.

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Today, one of the Top Gainers on NSE, shares of Ameya Precision Engineers was locked in a 10 per cent upper circuit to Rs 82.50 per share from its previous closing of Rs 75. The stock’s 52-week high is Rs 92 and its 52-week low is Rs 35.20.

Ameya Precision Engineers Ltd is a micro-cap company with a market cap of Rs 62 crore. The company has reduced its debt and it is almost debt-free. Additionally, the company reported excellent numbers in its half-yearly results (H2FY24) and annual results (FY24). Shares of the company gave multibagger returns of 100 per cent from its 52-week low of Rs 35.20. Investors should keep an eye on this stock.

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