This micro-cap stock gains more than 8% after receiving an order from the Ministry of Defence. The stock is trading 11% away from the 52-wee high and 16.7% and 57% above the 50-day and 200-day moving averages, respectively.
Krishna Defence and Allied Industries Ltd has a market capitalisation of Rs. 336 Cr making it a micro-cap company. On Thursday the stock rose over 8%, at 12:30 p.m., shares were trading 6.5% up at Rs. 293 on NSE.
According to the company filing, Krishna Defence and Allied Industries Ltd received an order for a supply of special steel products to be used for Naval Applications, worth Rs. 43.76 Cr from the Ministry of Defence. The order will be implemented in 24 months.
The stock has delivered 215% returns in one year, therefore making an investment of 1 lakh one year ago now would be worth Rs. 3.15 lakhs.
The company’s total revenue increased by % from Rs. Cr in FY22 to Rs. Cr in FY23 and net profit grew by % from Rs. Cr in FY22 to Rs. Cr FY23.
As per the latest shareholding information, promoters hold 73.38% and pubic hold 26.52% stake in the company.
Krishna Defence and Allied Industries Ltd. is a company that manufactures defence application items, dairy equipment products, and kitchen equipment. Under defence application, it offers a wide range of high-performance products for novel applications and other utilities.
Written by Sheshadri N
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