Under Rs 150 Stock Will Be In Focus Today As ISRO Invites This Micro-Cap Company To Participate In IAC 2024
The stock is up by 30 per cent from its 52-week low of Rs 110 per share.
Subsidiary of BSE Listed Tamboli Industries Limited, Tamboli Castings has received an invitation from the Indian Space Research Organisation (ISRO) to participate in the prestigious 75th International Astronautical Congress (IAC) taking place from October 14, 2024, to October 18, 2024, in Milan, Italy. It is one of the twenty companies participating from India and is the sole representative from the casting and machining sector. ISRO is a key contributor and a platinum sponsor to the event, representing a delegation of Indian companies in this congress.
IAC is organised by the International Astronautical Federation (IAF), a leading global space advocacy organization with over 513 members across 77 countries. This year's event is being hosted by the Italian Association of Aeronautics and Astronautics (A.I.D.A.A.) which expects industry leaders, innovators, and space technology enthusiasts to participate in large numbers.
Tamboli Castings manufactures mission-critical components that are highly precise and fully machined investment castings. It specializes in pneumatics & automation, pumps, valves & turbo parts, aerospace and automotive industries. TCL was incorporated in 2004 as an export-oriented unit and commenced production in 2006. Its clientele consists of Fortune 500 companies and brands across Europe, the US and Asia such as Ferrari, Siemens, ISRO, Jaguar, Flowserve, Ford, Voith, Bosch, L&T among others.
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On the opportunity and occasion, Vaibhav B. Tamboli, Chairman and Managing Director said “This is indeed a fantastic opportunity for us to showcase to the world on the indigenous capabilities we have developed. We stand committed to the Viksit Bharat and Athmanirbhar Bharat initiatives. ISRO inviting us to participate in the congress speaks volumes about our capabilities in the aerospace sector and we remain committed to furthering our footprint in this sector.”
ABOUT TAMBOLI INDUSTRIES LIMITED
Tamboli Industries Limited is the principal holding company and promoter of Tamboli Castings Limited (TCL). It holds 100 % equity share capital in its wholly owned subsidiary Tamboli Castings Limited which is a specialist in investment casting technology (Feinguss) delivering fully machined precision components.
The company has a market cap of Rs 141.2 crore. On Monday, shares of Tamboli Industries Limited plunged 2.03 per cent to Rs 142.35 per share from its previous closing of Rs 145.30 with an intraday high of Rs 146.75 and an intraday low of Rs 141. The stock is up by 30 per cent from its 52-week low of Rs 110 per share. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.