Hot Stock: This micro-cap stock with mcap of Rs 353 crore has an order book of Rs 1,430 crore; shares hit back-to-back upper circuits!

The stock is up by 27 per cent in 15 days and over 50 per cent in 1 month.

On July 21. 2023, one of the Top Gainers on BSE, shares of Oriental Rail Infrastructure Ltd zoomed 5 per cent upper circuit to Rs 65.52 per share from its previous closing of Rs 62.40. The shares of the company saw a spurt in volume by more than 2.21 times on BSE. In the recent trading sessions, the stock is hitting back-to-back upper circuits.

The company's announcement of its Quarterly Results and order book was the catalyst behind the sudden surge in the stock price. Details below:

The company's quarterly results showed a significant increase in both net sales and net profit. Net sales skyrocketed by 131 per cent to Rs 92.81 crore in Q1FY24, compared to Q1FY23. Net profit also increased by 46 per cent to Rs 5.44 crore in Q1FY24.

The company's net sales have been on a steady increase over the past year. In FY23, net sales increased by 88.37 per cent from Rs 172.60 crore in FY22 to Rs 325.13 crore in FY23. The company also reported a net profit of Rs 3 crore in FY23, compared to a net profit of Rs 16 crore in FY22.

Additionally, Oriental Rail Infrastructure announced that the company along with its subsidiary company (Oriental Foundry Private Ltd) is having total orders in hand of approx. Rs 1,430 crore.

Oriental Rail Infrastructure Ltd (BSE Scrip Code: 531859) is engaged in the manufacturing, buying, and selling of all types of recron, seat & berth, compreg boards and also engaged in trading of timber woods and all its products. The company has a market cap of Rs 353 crore.

The stock is up by 27 per cent in 15 days and over 50 per cent in 1 month. Investors should keep an eye on this micro-cap stock.

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