Only buyers in this company post a revised record date; turned Rs 1 lakh into Rs 6 lakh on a YTD basis!

Comparing the net profit for the first quarter of FY23 to the same quarter last year, it increased significantly by 170 per cent from Rs 0.30 crore to Rs 0.81 crore.

On an intraday basis on Friday, the shares of Atam Valves soared to Rs 285.40 per share on BSE after being locked in the 5 per cent upper circuit in an otherwise weak market.  

In order to determine the eligibility of shareholders entitled to the 1:1 issuance of fully paid-up bonus shares, the company has revised the record date from October 12, 2022, to October 24, 2022.  

The strong price-volume breakout in the shares of Atam Valves drew investors in. An initial investment of Rs 1 lakh in the company at the beginning of the year is now worth more than Rs 6 lakh as its shares soared more than 500 per cent during this time!  

Taking into account the company's financial performance, it reported a growth of 68.71 per cent from Rs 4.41 crore registered in Q1FY22, recording total revenue of Rs 7.44 crore in Q1FY23. Comparing the net profit for the first quarter of FY23 to the same quarter last year, it increased significantly by 170 per cent from Rs 0.30 crore to Rs 0.81 crore.    

One of the major producers of plumbing as well as industrial valves & fittings, Atam Valves is reputed for its product quality and innovation. Amco Industries, the parent company, was established in 1972 by Vimal Jain. The company began diversifying in 1982 under the brand name ‘Atam.’   

Atam Valves manufactures as well as sells a wide range of valves, cocks, boiler mounting, pipe fittings, sanitary fittings, steel & iron fabrication, and by-products.  

Keep a close eye on this scrip for the upcoming sessions!