40 per cent from its 52-week low: This micro-cap company bags new orders worth Rs 26,25,00,000 from Bharat Electronics Ltd!
The stock is up over 40 per cent from its 52-week low of Rs 313.50 per share.
Vinyas Innovative Technologies Limited informed that the company has received purchase orders worth Rs 26,25,00,000 from Bharat Electronics Ltd (BEL), a Government of India company. The company received this order from BEL- Bengaluru and Chennai Units and will be completed within 12 months from LOI.
Incorporated in 2001, Vinyas Innovative Technologies Limited provides design, engineering, and electronics manufacturing services catering to global OEM and ODM manufacturers in the electronic Industry.
The company has a market cap of Rs 547.4 crore. According to half-yearly results, the net sales increased by 20.72 per cent to Rs 137.25 crore and net profit increased by 86.7 per cent to Rs 5.64 crore in H1FY24 compared to H1FY23. In its annual results, the net sales increased by 13 per cent to Rs 235 crore and net profit increased by 600 per cent to Rs 7 crore in FY23 compared to FY22.
On Friday, shares of Vinyas Innovative Technologies Ltd plunged 3.32 per cent to Rs 435 per share with an intraday high of Rs 447.98 and an intraday of Rs 429. The shares of the company have an ROE of 20 per cent and an ROCE of 18 per cent.
The stock is up over 40 per cent from its 52-week low of Rs 313.50 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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