Multibagger penny stock to keep under radar as company to manufacture chip-on-board mini-LED backlighting for the Railways and Defence sectors
The stock gave multibagger returns of 120 per cent in just 2 years and a whopping 1,335 per cent in 3 years.
Titan Intech Ltd: Expanding Manufacturing Capabilities
Titan Intech Ltd is set to bolster its manufacturing capabilities with the establishment of a comprehensive Electronic Manufacturing Services (EMS) facility. This facility will incorporate Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) services, positioning the company as a key player in the Indian and global markets. The focus will be on Chip on Board mini-LED backlighting, catering to the specific needs of the Railways and Defence sectors. This strategic move aligns with the government's initiatives of "Make in India" and "Digital India," underscoring the company's commitment to innovation and domestic manufacturing. The project, estimated to cost Rs 550 crores, will be closely monitored and updated with regular progress reports.
Allotment of Equity Shares
In a separate development, Titan Intech Ltd has allotted 7,70,000 equity shares to various allottees. This allotment follows the conversion of convertible equity share warrants into equity shares. The shares were allotted at different prices based on the conversion terms of the warrants. This move is expected to strengthen the company's equity base and provide additional resources for future growth and expansion.
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About the Company
Established in 1984, Titan Intech Ltd (TIL) has emerged as a leading player in the realm of IT and data center solutions. Initially focused on manufacturing threads, TIL strategically shifted its focus to the IT sector, forming alliances with industry experts. Today, the company offers a comprehensive range of services, including cloud solutions, disaster recovery, managed services and robust security measures.
TIL's commitment to excellence is evident in its diverse clientele, which includes prominent names such as Ajel Limited, Bridgetown Consulting Group, and Global Data Tek. By providing reliable and efficient IT infrastructure and data center solutions, TIL has earned the trust and loyalty of its customers, solidifying its position as a trusted partner in the industry.
On Tuesday, shares of Titan Intech Ltd gained 0.22 per cent to Rs 40.20 per share from its previous closing of Rs 40.11 with an intraday high of Rs 41.50 and an intraday low of Rs 40. The stock’s 52-week high is Rs 75 and its 52-week low is Rs 28.53. The company has a market cap of Rs 99.6 crore. The stock gave multibagger returns of 120 per cent in just 2 years and a whopping 1,335 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.