Rs 31,17,324 worth of order from Swiggy: Heavy buying was witnessed in this micro-cap stock; hits upper circuit & 52-week high!
The stock is up by 88.50 per cent in less than 1 month.
Alphalogic Industries Ltd informed the exchange (BSE scrip code: 543937) that the company has won the order for the design, manufacture, supply and installation of a storage racking system from Scootsy Logistics Private Limited (popularly known as Swiggy). The order is worth Rs 31,17,324 (Rs 31.17 lakh) and will be executed within August 2023.
On Friday, one of the Top Gainers on BSE, shares of Alphalogic Industries Ltd surged 20 per cent upper circuit to Rs 181.50 per share from its previous closing of Rs 151.25. The stock also made a new 52-week high of Rs 181.50 per share. At the closing bell, shares of the company were trading at Rs 176.95 per share, up 16.99 per cent. The stock is hitting back-to-back 52-week highs.
Alphalogic Industries is engaged in the design, manufacturing, supply and installation of industrial and institutional storage systems i.e., compactor storage system, heavy-duty storage racks, cantilever racks, lockers, mezzanine floors, metal pallets & crates. The company has a market cap of Rs 90.15 crore. The net sales increased by per cent to Rs 18.02 crore and net profit skyrocketed by per cent to Rs 2.19 crore in FY23 over FY22.
The shares of the company were listed on BSE on Friday, July 14, 2023 at Rs 96.29 per share as an S&P BSE SME IPO with a lot size of 1,200 shares. The stock has a PE of 41.20x, an ROE of 84.4 per cent and a ROCE of 63 per cent.
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The shares of the company saw a spurt in volume by more than 3.50 times on BSE. Additionally, the stock is up by 88.50 per cent in less than 1 month. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.