1:1 bonus share & 5:1 stock split: Penny stock under Rs 20 to keep under radar as company bags export order worth Rs 5,00,00,000 from Green Metals FZCO
The stock gave multibagger returns of 760 per cent in 3 years and a whopping 1,230 per cent in 5 years.
On Monday, shares of Sprayking Ltd gained 4.12 per cent to Rs 15.16 per share from its previous closing of Rs 14.56 with an intraday high of Rs 15.78 and an intraday low of Rs 14.35. The stock’s 52-week high is Rs 30.02 and its 52-week low is Rs 12.76.
Narmadesh Brass Industries Limited, a subsidiary of Sprayking Limited, secures a significant export order for brass billets valued at approximately Rs 5 crore. The order, placed by a prominent Dubai-based company, will see the brass billets exported to China, a major market for brass components. This strategic deal marks a significant milestone for both Narmadesh Brass Industries and Sprayking Limited, demonstrating their commitment to expanding their global presence and meeting the increasing demand for high-quality brass products in international markets. The brass billets, manufactured to exacting international standards, reflect the company's dedication to excellence and quality assurance. This export order not only reinforces Narmadesh Brass Industries' position as a leading supplier of brass components but also contributes to the growth and success of Sprayking Limited as a whole.
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Earlier, the company's shares ex-traded 1:1 bonus share issue, effectively a 100 per cent bonus, for its investors. The bonus shares became ex-tradeable on August 21, 2024. Additionally, the company underwent a 5:1 stock split, meaning each equity share with a face value of Rs 10 was divided into 5 equity shares with a face value of Rs 2 each. This stock split ex-traded on Friday, April 12, 2024.
Sprayking Ltd, founded in 1980, is a manufacturer of various brass components and parts, including fittings, equipment for forging, transformer parts, and custom-made brass items. They also produce copper forgings, agricultural sprayer parts, garden fittings and more, and export their products to countries around the world. The company has a market cap of over Rs 160 crore.
According to Quarterly Results, the net sales increased by 119 per cent to Rs 35.81 crore and net profit increased by 126 per cent to Rs 2.35 crore in Q1FY25 compared to Q1FY24. The stock gave multibagger returns of 760 per cent in 3 years and a whopping 1,230 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.