Rs 5,12,00,000 orders: Heavy buying witness in this micro-cap engineering stock; hit 52-week high!

The stock is up by over 50 per cent from its 52-week low of Rs 116.5 per share.

Sunita Tools Limited informed that the company has received order for steel mould products totalling to approx. Rs 1,58,00,000 (plus tax). The order is a will be within 3 months from LOI.

Earlier, the company has received the contract for procurement of spares of EN 19 Rounds (From diameter 90mm to diameter 140mm), SAE 4140 Rounds (From diameter 25mm to diameter 90mm) and C 45 Rounds (From diameter 90 mm to diameter 140mm) totalling to approx. Rs 3,54,00,000 (including tax). The order is a will be delivered by November 2024.

Including the above orders, the total number of new sales orders received in the month of October 2023 is aggregate to Rs 5.78 crore (plus taxes) and the aggregate orders in hand as on October 31, 2023 are Rs 5.61 crores (plus taxes).

Incorporated in 1988, Sunita Tools Limited manufactures Mold base and machining parts for automotive, pharmaceutical, electronics, consumer goods, and manufacturing sectors.

Talking about the financials, Sunita Tools has a market cap of over Rs 100 crore. In its annual results, the net sales increased by 58.5 per cent to Rs 13.84 crore, operating profit increased by 129.7 per cent to Rs 5.10 crore and net profit increased by 317.2 per cent to Rs 3.38 crore in FY23 compared to FY22.

On Friday, shares of Sunita Tools Ltd surged 5.48 per cent to make a new 52-week high of Rs 182 per share. At the closing bell, shares of the company were trading at Rs 179.50 per share, up 4.03 per cent. In the recent trading sessions, the stock is hitting back-to-back 52-week highs. The company's promoters own 72.98 per cent of the shares, while the remaining 27.02 per cent are owned by the public.

The stock is up by over 50 per cent from its 52-week low of Rs 116.5 per share. Investors should keep an eye on this micro-cap stock.

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