Rs 2,28,19,600 order received: SME stock to supply Air Duct Assemblies for Vande Bharat Trains—watch out!

The stock concluded the first trading session at Rs 147, marking a remarkable doubling in value—a noteworthy multibagger performance on its inaugural day.

There has been a surge in SME IPOs over the past couple of years, and the momentum continues to intensify. In recent months, we witnessed a significant influx of SME IPOs, including the notable case of Presstonic Engineering Ltd (PEL), whose IPO opened on December 11, 2023, and closed on December 13, 2023. The company was subsequently listed on December 18, 2023.

PEL made an impressive debut on NSE SME, listing at Rs 140, a substantial increase from the final issue price of Rs 72. The stock concluded the first trading session at Rs 147, marking a remarkable doubling in value—a noteworthy multibagger performance on its inaugural day.

Specializing in the manufacturing of Metro Rail Rolling Stock Products, Metro Rail Signaling Products, and Infrastructure Products, PEL supplies its offerings to renowned Global and Domestic OEMs engaged in Rail and Metro Rail Rolling Stock, as well as Signaling equipment manufacturing and servicing companies.

As of March 31, 2023, PEL held an unexecuted order book worth Rs. 63.90 crore. Subsequently, from April 01, 2023, onward, the company secured an additional order valued at Rs. 4.57 crore. As of November 30, 2023, PEL had a workforce of 36 employees.

Over the weekend, the company issued a press release announcing it has received purchased order from BEML Ltd, Bengaluru, for the supply of Air Duct Assemblies for Vande Bharat Trains. This collaboration adheres to the technical specifications and terms and conditions outlined in the purchase order, with a total order value of Rs 2,28,19,660 (net value excluding tax).

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