Penny stock under Rs 30 from auto components & equipment industry hit upper circuit with heavy volume on August 01
The stock is up by 61.4 per cent from its 52-week low of Rs 17.58 per share.
On Thursday, shares of Pritika Auto Industries Ltd hit 5 per cent upper circuit to Rs 28.37 per share from its previous closing of Rs 27.03. The 52-week high of the stock is Rs 54.33 and the 52-week low of Rs 17.58. The shares of the company saw a spurt in volume by more than 1.60 times with 1,03,063 shares quantity traded on BSE. The company has not made any significant announcements of late. Hence, the rally in the share price could be driven purely by the market forces.
Pritika Auto Industries Ltd, established in 1980, is a leading manufacturer of tractor and automobile components within the Pritika Group of Industries. They specialise in machined castings and a wide range of parts for tractors and commercial vehicles, making them a one-stop shop for various automotive and engineering needs. The company remains a preferred partner for top OEMs, securing a Rs 24 crore annual order from a leading multinational tractor manufacturer and a Rs 36 crore annual order from a prominent domestic tractor manufacturer.
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According to Quarterly Results, the company reported a total income of Rs 82.58 crore and a net profit of Rs 2.59 crore in Q4FY24 while in Q4FY23 the company reported a total income of Rs 88.63 crore and a net profit of Rs 2.70 crore. Similarly, in its annual results, the company reported a total income of Rs 343.71 crore and a net profit of Rs 16.85 crore in FY24 while in FY23 the company reported a total income of Rs 363.24 crore and a net profit of Rs 15.69 crore.
The company has a market cap of Rs 458 crore. According to the shareholding pattern, the promoters of the company 64.86 per cent stake, FIIs own 4.07 per cent and public own 31.08 per cent as of June 2024. The stock is up by 61.4 per cent from its 52-week low of Rs 17.58 per share. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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