Pritika Engineering jumps 10% and hits the upper circuit
The Pritika Engineering shares have delivered a remarkable return of around 100% to their shareholders in the past year.
Pritika Engineering manufactures customised products for tractors, commercial vehicles, and other construction equipment, which are supplied directly to OEMs and group companies. Today the company experienced a significant surge in its share price.
At the start of the day’s trading session, the stock opened at Rs 56 per share, higher than the previous day’s closing figure of Rs 53 per share on the NSE. As of the time of writing this article, the shares are currently at Rs 58.30 per share on the NSE. The stock has reached the upper circuit price limit of 10%, reflecting strong demand in the market with no sellers willing to offer shares, resulting in potential buyers being unable to make purchases, leading to disappointment among buyers.
The company’s current market capitalisation stands at Rs 69.90 crore, and the stock has generated an impressive return of 100% in the past year.
Stock Price Chart (Daily):
Trading and Delivery Volumes (Daily):
Business Overview:
Pritika Engineering Components Limited is an India-based company engaged in the manufacturing of precision machined components primarily for the automotive industry, with a focus on tractors, trucks, and other commercial vehicles. The company serves as a supplier to original equipment manufacturers in the tractor industry within the automotive sector. Its product range includes various tractor and automobile components, such as end covers, cover sealed brakes, differential cases, cover hydraulic lifts, cover trans cases, front wheel hubs, flywheel housings, rear axle casings, hydraulic lift covers, brake housings, front engine supports, among others. The company’s subsidiary is Meeta Castings Limited.
Financial Performance:
During the December quarter, the company reported revenues of Rs 22.34 crore, compared to the revenue of Rs 18.13 crore in the same quarter last year. The company’s operating profit stood at Rs 3.25 crore, resulting in an operating profit margin of 14.55%, compared to an operating profit of Rs 2.04 crore. Moreover, the company reported a net profit of Rs 1.16 crore, compared to a net profit of Rs 0.76 crore.
Investors must keep this stock on their radar.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.