Stock under Rs 100: This multibagger small-cap stock announces sale of non-core assets; keep it on your radar for Monday!
Interestingly, the stock is up by a jaw-dropping 732 per cent in the last three years and also, on the YTD basis the stock is up by a staggering 271.21 per cent
Kirloskar Electric Company Ltd, established in 1946, is an electrical engineering company that produces AC Motors, DC Motors, Transformers, Switchgear and Electronics through nine manufacturing units. It caters to core sectors like power generation, transmission and distribution, transportation, renewable energy, sugar, steel, cement, and allied industries.
Interestingly, the stock is up by a jaw-dropping 732 per cent in the last three years and also, on the YTD basis the stock is up by a staggering 271.21 per cent. Meanwhile, on a short-term basis as well the stock has been firing all cylinders as it is up by 93.25 per cent in the last three months.
On Monday, the stock is likely to hog the limelight of D-Street as the company on Sunday announced that it has executed a Sale Deed on December 08, 2022, affecting the sale of the company’s non-core asset of 10.81 acres of land situated at Gudimangalam village, Udumalpet Taluk, Tiruppur district, Tamil Nadu for a consideration of Rs 2,10,00,000 (Rupees Two crore Ten Lakh).
The buyers, P Dhandapani and M Chinnasamy are third-party buyers, neither of them belongs to the Promoter/Promoter Group/Group companies and the transaction does not fall under the ambit of Related Party Transactions.
In the quarter that ended on September 30, 2022, the company gave astonishing results as net sales jumped up 28.66 per cent YoY from Rs 86 crore to Rs 110 crore. The turnaround was seen in the quarterly net profit as the company reported a net profit of Rs 22 crore as against a loss of Rs 11 crore in the same quarter of the previous fiscal year.
Keep stock this stock on your radar for Monday!