The stock is up over 50 per cent in just 6 months and gave multibagger returns of 130 per cent in 3 years.
Nitiraj Engineers Ltd informed that the company received an order from, Linkwell Telesystem Pvt Ltd, Kolkata, for the supply of weighing scales for a total quantity of 2500 machines.
Earlier, the company received an order from, Integrated Child Development Services, Andhra Pradesh, for the supply of 19,236 nos of PHOENIX Spring Type Mechanical Weighing Scale (Infant).
On Friday, shares of Nitiraj Engineers Ltd plunged 0.47 per cent to Rs 107 per share with an intraday high of Rs 110 and an intraday low of Rs 103. The stock’s 52-week high is Rs 115 and its 52-week low is Rs 66.25.
Nitiraj Engineers Limited offers measuring and counting devices. The company manufactures and sells electronic weighing scales and systems, currency counting machines, and digital fare meters under the brand name Phoenix. Nitiraj Engineers serves customers worldwide.
The company has a market cap of Rs 110 crore with a 3-year stock price CAGR of 27 per cent. The company has very little debt, with only ₹3.20 crore outstanding, which is just 2.90 per cent of its current market capitalization. According to the Quarterly Results, the net sales increased by 56.2 per cent to Rs 11.71 crore and net profit increased by 434.6 per cent to Rs 0.87 crore in Q1FY24 compared to Q1FY23.
The stock is up over 50 per cent in just 6 months and gave multibagger returns of 130 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.
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