Penny stock under Rs 100 hit upper circuit & 52-week high after bagging order worth Rs 11,01,45,000 from Cochin Shipyard Ltd

The company has a market cap of Rs 60.70 crore and the stock is up by 16 per cent from its 52-week low of Rs 83.03 per share.

On Tuesday, shares of Indobell Insulations Ltd hit a 5 per cent upper circuit to Rs 96.35 per share from its previous closing of Rs 91.77 per share. The stock also made a new 52-week high of Rs 96.35 per share while its 52-week low is Rs 83.03 per share.

Indobell Insulations Limited has secured an order from Cochin Shipyard Limited, a Central PSU under the Ministry of Ports, Shipping and Waterways, for the supply and application of Hot Lagging. This domestic order, valued at Rs 11,01,45,000 (Rupees Eleven Crore One Lakh Forty-Five Thousand Only) inclusive of all duties and taxes, is on a sale basis and is to be executed between January 13, 2025 and February 28, 2025.

Indobell Insulations Ltd., established in 1972, is a prominent manufacturer of insulation products. Their core offerings encompass mineral and ceramic fiber nodules, along with prefabricated thermal insulation jackets. The company's expertise extends beyond manufacturing, encompassing a comprehensive range of services including consultancy, engineering, fabrication, material supply, installation, supervision, and project management. Their clientele spans diverse sectors such as power plants, railways, aeronautics, and navigation.

Indobell Insulations boasts a significant market presence, with 66.29 per cent of its FY24 revenue generated domestically, primarily from Tamil Nadu, Uttarakhand, and West Bengal. Furthermore, the company enjoys a substantial export market, with 33.71 per cent of its revenue derived from international sales, particularly to countries like Switzerland, the USA, Taiwan, Germany, and South Korea. While the company maintains a diverse customer base, it exhibits a moderate degree of customer concentration, with the top 5 customers contributing to 86% of its overall revenue.

The company has a market cap of Rs 60.70 crore and the stock is up by 16 per cent from its 52-week low of Rs 83.03 per share. Investors should keep an eye on this penny stock.

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