This small-cap stock hit a 20% upper circuit on Tuesday after the company received an order worth 56.14 Cr and the stock climbed to a new 52-week high of Rs. 263.20 on the same day.
The robust and rising volume, which is higher than average in comparison to the prior day and week, is assisting in maintaining the stock price. The stock currently trading above the both 50-day and 200-day moving averages.
Krishna Defence And Allied Industries Ltd
The company Krishna Defence And Allied Industries Ltd., with a market capitalisation of Rs. 297 Cr., falls within the small-cap category. On Tuesday the stock opened at Rs. 212 and hit a 20% upper circuit at Rs. 260.30.
According to the company’s filing, the company has received an order from the Ministry of Defence for the supply of Special Steel Products to be used for Naval Applications, the total order worth Rs.56.14 Cr. The contract has been granted to KDAIL for the project implementation within the upcoming 10 months.
As per the company filing, total revenue grew by 28.32% YoY from Rs. 50.34 Cr in FY23 to Rs. 64.60 Cr in FY24, and for the same period net profit rose by 115% YoY from Rs. 2.45 Cr to Rs. 5.29 Cr.
Promoters hold 73.38%, FIIs hold 0.11% and the public hold a 26.52% stake in this company as of June 2023.
The company Krishna Defence and Allied Industries Limited offers precision parts and crucial assemblies. The company’s primary areas of focus include the design, development, and production of a broad range of machinery for the defence, security, dairy, and mega kitchen verticals.
Written by Sheshadri N
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