Promoters bought 14,779 shares & 5:1 Stock Split: Multibagger penny stock under Rs 70 – Company bags new order worth Rs 40 million from Jindal Stainless Ltd

The stock gave multibagger returns of 707 per cent in 1 year and a whopping 2,090 per cent in 3 years.

On Wednesday, shares of Trishakti Industries Ltd was locked in 2 per cent upper circuit to Rs 67.68 per share from its previous closing of Rs 66.36. The stock’s 52-week high is Rs 70.34 and its 52-week low is Rs 6.80. The shares of the company saw a spurt in volume by more than 1.01 times on BSE.

Trishakti Industries Ltd. has successfully secured a INR 40 million contract with Jindal Stainless Ltd. to supply specialized machinery for their operational needs, affirming our position as a leading provider of high-quality crane rental services. This strategic partnership not only bolsters our financial standing but also solidifies our reputation as a dependable collaborator in the infrastructure and heavy machinery rental industry, reinforcing our commitment to delivering exceptional service and maximizing shareholder value.

Earlier, the company secured a long-term contract with ITD Cementation India Limited to supply heavy industrial equipment for the Adani Renewable Energy project. This significant win solidifies Trishakti's position as a key player in the heavy equipment rental market, demonstrating the company's capability to support large-scale industrial projects across India. The contract is expected to contribute positively to Trishakti's financial performance and marks a major step in expanding its presence in the industry.

Furthermore, shares of the company ex-traded stock split/sub-division of equity shares of the company from the face value of Rs 10 to the face value of Rs 2 per share. The ex-date for the stock split was Tuesday, January 16, 2023.

Trishakti Industries Limited provides infrastructure and Oil & gas exploration services. The company engages in multiple business sectors including logistics and infrastructure, oil and gas, food-related items, and agency services. Trishakti Industries serves customers worldwide.

The company has a market cap of over Rs 100 crore with a 3-year stock price CAGR of 180 per cent. In its Quarterly Results and annual results, the company reported positive numbers. The promoters of the company bough 14,779 shares and increased their stake to 36.55 per cent in June 2024 compared to March 2024. The stock gave multibagger returns of 707 per cent in 1 year and a whopping 2,090 per cent in 3 years. Investors should keep an eye on this penny stock.

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

Also Read: 97 per cent in just 1 week: Debt-free penny stock under Rs 15 hit a fresh 52-week high after Board allots 1,15,20,000 shares to promoters & non-promoters!