52-week high alert: This multibagger micro-cap company bags Rs 100 crore order from a British multinational company!

Shares of the company gained more than 70 per cent in the last six months.

Indo National Limited informed in the exchange filing that Kineco Kaman Composites India Private Limited (KKCI), a subsidiary of Indo National Limited, has been awarded a contract worth Rs. 100 crores (US$ 12.39 million) from BAE Systems to manufacture and export fully assembled Mission Crew Workstations (consoles) for the Boeing P-8 Poseidon aircraft.

The Boeing P-8 Poseidon is a long-range multi-mission patrol and reconnaissance aircraft regarded as one of the most capable aircraft in its class. The Indian Navy operates 12 P-8 Poseidon aircraft. With the positive news coming up for the company, the stock also made a fresh 52-week high.

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Kineco Kaman has been engaged in this program since 2013 and has supplied over 700 consoles to BAE Systems. The company has been recognized for its 100% on-time delivery and quality performance, receiving several Gold Supplier awards from BAE Systems. In 2020, Kineco Kaman was awarded the BAE Systems "Partner2Win Supplier of the Year" award for its exceptional performance.

Indo National Limited is the second largest player in the dry cell batteries industry in India, with a capacity of 78.5 crore batteries per annum and a market share of above 30%. INL has an established distribution network comprising exclusive distributors, 2500 exclusive stockists, 26 depots, and 17 lakh retail outlets and wholesalers. In fiscal 2016, INL acquired a 44.49% stake in Kineco, which manufactures composite for Railways, aerospace, and defence.

The stock has given multibagger returns of over 100 per cent in the last three years. Investors should keep a close eye on this stock.

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