Penny stock under Rs 70 in green as company bags Rs 83,12,921 order from CNH Industrial (India) Pvt Ltd
The stock is up by 15.2 per cent from its 52-week low of Rs 59 per share
Kranti Industries Limited has secured a significant business deal with CNH Industrial (India) Private Limited. The company has been awarded a Business Nomination Letter for the development and supply of three new products: Knife, Arm HD, Frame Knotter Assy and Latch Assy. This new business will strengthen Kranti Industries' position in the Agri Implements sector. The total annual value of this contract is Rs 83,12,921, inclusive of tooling costs. The order is domestic in nature, requiring the supply of fully finished machined castings. The development and sample submission deadline is December 2024, with subsequent supplies adhering to specific schedules. It's noteworthy that Preciso Metall Pvt Ltd, a subsidiary of Kranti Industries, will supply the raw castings required for this project.
Earlier, the company has taken a significant step forward by securing clearance for the commercial production of Gearbox Housing for industrial machinery applications. This expansion into a new market segment signifies the company's dedication to innovation and diversification. The Gearbox Housing production follows extensive testing and prototyping processes, ensuring adherence to stringent quality standards. With this new product line, Kranti Industries aims to cater to a wider customer base, reinforcing its position as a reliable provider of high-quality components across various industries.
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About the Company
Kranti Industries Limited (KIL), a BSE-listed company with over four decades of experience, is a globally recognized precision component manufacturer. Holding IATF 16949:2016 and ISO 9001:2015 certifications, KIL caters to leading OEMs in tractors, construction equipment, automotive, and electric vehicle sectors. With three advanced facilities in Pune equipped with 80 production machines and state-of-the-art machining centers, KIL provides end-to-end solutions, showcasing its expertise in crafting innovative components.
Talking about the financials, Kranti Industries has a market cap of Rs 77 crore. According to the shareholding pattern, the promoters of the company own a 69.12 per cent stake in the company and the rest 30.88 per cent stake is owned by the public with a total of 3,902 shareholders as of September 2024.
On Monday, shares of Kranti Industries Ltd gained 3.75 per cent to Rs 67.96 per share from its previous closing of Rs 65.50 per share. The stock is up by 15.2 per cent from its 52-week low of Rs 59 per share and investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.