Shares of this multibagger stock jumped approximately 9 percent in Friday’s trading session after the company successfully bagged an order worth Rs 16.48 lakhs from Blinkit for the supply of Holi Gift Sets. Year-to-date, the company’s stock gained more than 30 percent for its shareholders.
With a market capitalization of Rs 133.13 crores, the stocks of Archies Limited opened their trading hour on Friday at Rs 36.10 and currently trade at Rs 39.50, gaining a whopping 9 percent as compared to the previous closing levels of Rs 36.09 apiece.
Such bullish movements in the company’s share price were observed after the company, through a recent regulatory filing with the Bombay Stock Exchange (BSE), intimated about the receipt of a purchase order from “Blinkit”, through Innovative Ventures (A quick commerce site), worth Rs 16.48 lakhs.
The abovementioned order pertains to the supply of Holi Gift Sets and the period for execution of the same is decided as the first week of March 2024.
During the recent financial quarters, the company’s prime indicators of business, viz, the operating revenues as well as after-tax profits, witnessed a dip in numbers with the former reducing marginally from Rs 22.19 crores during Q2FY24 to Rs 21.06 crores during Q3FY24 and the latter, during the same period, slipping from Rs 1.12 crores to Rs 65 lakhs.
In addition, the company’s annual financials portray positive movements with the return on equity (RoE) transitioning from negative numbers of 2.85 percent during FY21-22 to positive numbers of 2.52 percent during FY22-23. Likewise, the return on capital employed (RoCE) rose marginally from 1.22 percent to 4.69 percent.
Founded in 1979, Archies Limited is engaged in the business of printing and service activities related to the retail sale of other goods in stores, sales of cultural and recreation goods in specialized stores, etc. The company product range includes gift items such as stationery essentials, jewelry, toys, and other accessories.
Written by Amit Madnani
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
