82 per cent from its 52-week low: Micro-cap company bags new orders worth Rs 48,03,00,000 from International & Domestic Customers
The stock is up by 82 per cent from its 52-week low of Rs 420.05 per share.
Vinyas Innovative Technologies Limited has received purchase orders worth Rs 48.03 crore from both domestic and international customers. These orders are to be executed within the next 12 months. The company did not disclose the names of the specific customers but confirmed that the contracts were awarded on standard terms with no involvement from promoters or related parties.
About the Company
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 971 crore. According to half-yearly results, the net sales increased by 20.72 per cent to Rs 137.25 per share 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 per share and net profit increased by 600 per cent to Rs 7 crore in FY23 compared to FY22.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.
On Wednesday, shares of Vinyas Innovative Technologies Ltd plunged 1.58 per cent to Rs 764.90 per share from its previous closing of Rs 777.20 per share. The shares of the company have an ROE of 20 per cent and an ROCE of 18 per cent. The stock is up by 82 per cent from its 52-week low of Rs 420.05 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.