Penny Stock Potential-Rajoo Engineers Limited
On Friday, Rajoo Engineering’s shares surged by 2%, hitting an upper circuit limit and reaching Rs 86.90 per share, up from its previous closing at Rs 85.50 per share. This uptick also marked a new 52-week high for the company’s stock.
This significant rise in share price may be attributed to the recent substantial order received by Rajoo Engineering from an international entity based in Europe. The order, valued at Rs 31 crore, pertains to the supply of an extrusion machine. Rajoo Engineering is set to complete this order within 12 months from the issuance of the Letter of Intent (LOI).
Furthermore, this achievement underscores the company’s prowess in the field of manufacturing and supplying extrusion machinery, cementing its position in the global market. Investors and stakeholders may be showing increased confidence in the company’s growth prospects as a result of this development.
Rajoo Engineers Limited, headquartered in Gujarat, specializes in the manufacturing of plastic-extrusion machinery. The company distinguishes itself by its ability to design and manufacture machinery tailored to meet the specific requirements of its customers.
In recent financial reports, Rajoo Engineers Limited has demonstrated a strong financial performance, posting positive numbers both in its quarterly results and annual results. Remarkably, the company maintains a nearly debt-free status, with its current debt standing at a modest 1.52 crore, representing just 0.28% of its market capitalization, which currently stands at Rs 535 crore.
Investors have taken note of the company’s stellar performance in the stock market. Over the past three months, the stock has surged by an impressive 65%, and within a span of six months, it has delivered remarkable multibagger returns of 230%. These substantial gains have captured the attention of investors, suggesting the potential for significant growth in this micro-cap stock.
Please note that this article is intended for informational purposes only and does not constitute investment advice. As with any investment, individuals should conduct thorough research and consider their financial objectives and risk tolerance before making any investment decisions.
Rajoo Engineers Limited, a prominent player in India’s plastic extrusion machine manufacturing sector, boasting a rich legacy of nearly 35 years of expertise in the industry, has revealed a significant development. The company has successfully acquired three adjacent industrial plots adjoining its existing factory in Rajkot. Here are the specifics of this noteworthy acquisition.
Penny Stock Potential-Rajoo Engineers Limited Acquisition Details:
Acquisition No-1:
Covering an area of 598.82 square meters, this parcel is situated at Sub-plot No. 11+12/A within Plots Paiki Plot No. 11 and 12 of Revenue Survey No. 210, located in the Industrial Area of Vill: Veraval, Tal. Kotda Sangani, Rajkot District, Gujarat.
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Acquisition No-2:
Encompassing an area of 1,128.67 square meters, this property is located at Sub-plot No. 11+12/B within Plots Paiki Plot No. 11 and 12 of Revenue Survey No. 210, within the Industrial Area of Vill: Veraval, Tal. Kotda Sangani, Rajkot District, Gujarat.
Acquisition No-3:
Covering an area of 893.36 square meters, this parcel is situated at Plot No. 10 of Revenue Survey No. 210, within the Industrial Area of Vill: Veraval, Tal. Kotda Sangani, Rajkot District, Gujarat.
These acquisitions mark a significant expansion for Rajoo Engineers Limited in its Rajkot facility.
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Disclaimer:
The records supplied in this article is for informational functions only.The stock market, which include futures buying and selling, involves inherent risks, and it is critical to behavior thorough research and recall your economic conditions and danger tolerance before making any investment picks.