Share price of this Auto Ancillary stock jumped by nearly 8 percent to Rs. 460.0 on Thursday, compared to its previous closing price of Rs. 565.45, after the company received an order.
With a market cap of Rs. 166.7 crore, the shares of Duncan Engineering Ltd. opened at Rs. 439.95 on February 22nd. At 01:32 p.m. the stock was trading at Rs. 455, up by nearly 6.8%.
The company has delivered positive returns of nearly 16.6 percent in the last one year. However, it has given negative returns of around 1.74 percent in the last six months, as well as, around 15.5 percent of negative returns, so far in 2024.
According to the recent filings on the BSE, Duncan Engineering received an order for the Valve Automation System of BHEL, Ranipet Project.
The order received by the company is worth Rs, 9.44 crore including GST or Rs. 8 crore excluding GST.
In terms of financials, the revenue from operations of the company reduced by 6.06 percent QoQ from Rs. 16 crore in Q2 FY23-24 to Rs. 15.03 crore in Q3 FY23-24.
Further, the company also witnessed a decrease in the net profit on a quarter-on-quarter basis by nearly 22.3 percent to Rs. 1.25 crore in Q3 FY23-24 from Rs. 1.61 crore in Q2 FY22-23.
Duncan Engineering Limited, a part of JP Goenka group of companies, is a pioneer in the field of Industrial Pneumatics and Off-Highway Tyre Valves and accessories in India.
With a strong presence in the Indian OEM and Aftermarket segments, the company offers automobile goods to major tyre manufacturers such as Apollo Tyres, MRF, CEAT, Goodyear, and other Original Equipment customers.
Written by Shivani Singh
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.
