Auto Penny Stock Under Rs 35 To Keep Under The Radar As Company Participated In The Bharat Connect Conference Rising Stars Online Conference

The stock is up by 60 per cent from its 52-week low of Rs 18 per share.

Pritika Auto Industries Limited announced that the company's management team participated in the Bharat Connect Conference Rising Stars online conference today at 10 AM, hosted by Arihant Capital. During the discussion with investors and analysts, we provided information that is publicly available and does not involve any unpublished price-sensitive information as per our company's Code of Practices and Procedures for Fair Disclosure of Unpublished Price-Sensitive Information.

Bharat Connect Conference Rising Stars is a virtual event organized by Arihant Capital, a prominent investment firm. This online conference serves as a platform for emerging companies to showcase their potential and connect with investors and industry experts. The conference provides a unique opportunity for rising stars to present their business plans, engage in discussions with potential investors and explore potential partnerships. By participating in this event, companies can increase their visibility, attract investment and gain valuable insights from industry leaders.

On Wednesday, shares of Pritika Auto Industries Ltd plunged 0.50 per cent to Rs 27.99 per share from its previous closing of Rs 28.13 with an intraday high of Rs 28.75 and an intraday low of Rs 27.37. The 52-week high of the stock is Rs 54.33 and the 52-week low of Rs 18.

Pritika Auto Industries Ltd., a cornerstone of the Pritika Group established in 1980, is a premier manufacturer of tractors and automotive components. Renowned for their expertise in machined castings and a diverse range of parts, they offer a comprehensive solution for the automotive and engineering industries. Their reputation as a trusted partner has solidified their position with leading OEMs, securing substantial annual orders from both multinational and domestic tractor manufacturers.

Pritika Auto Industries Limited has set a new benchmark by surpassing its previous record with a monumental dispatch of 3,550 tons in July 2024. This achievement underscores the company's exceptional operational capabilities, strategic foresight, and the unwavering commitment of its team. The thriving agricultural sector, coupled with the rising demand from domestic OEMs, has been a key driver behind this growth. Pritika Auto Industries' strong market presence, nurtured by enduring OEM partnerships and consistent delivery, in conjunction with optimized production and distribution systems, has been pivotal in securing this remarkable accomplishment.

According to Quarterly Results, the company reported a total income of Rs 88.80 crore and a net profit of Rs 4.48 crore in Q1FY25 while in Q1FY24 the company reported a total income of Rs 94.72 crore and a net profit of Rs 5.29 crore. Similarly, in its annual results, the company reported a total income of Rs 343.71 crore and a net profit of Rs 16.85 crore in FY24 while in FY23 the company reported a total income of Rs 363.24 crore and a net profit of Rs 15.69 crore.

The company has a market cap of Rs 447 crore. According to the shareholding pattern, the promoters of the company have 64.86 per cent stake, FIIs own 4.07 per cent and the public owns 31.08 per cent as of June 2024. The stock is up by 60 per cent from its 52-week low of Rs 18 per share. Investors should keep an eye on this penny stock.  

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