Penny stock engaged in manufacturing and supplying Industrial Safety gear jumped 17 percent in the day’s trade after it partnered with a Korean Company to expand its operations and facility.
At 11:42 a.m the shares of Jiwanram Sheoduttrai Industries Limited were trading at Rs. 19.50, up 17 percent from its previous day’s close price of Rs. 16.60 and its market capitalization is Rs. 41 Crores.
India has almost nill presence or minimal presence of around 0.001% in the same market as well as the technology, but India will soon be consuming over 5 billion in the future. With these, the Company is confident about receiving new orders from the clients very soon once the same is set up and is in the process.
In addition to this Jiwanram Sheoduttrai Industries Limited has received new orders of Gloves from one of its US Customers. The manufacturing of the order shall commence in January 2024 and will be completed within the next 90 to 120 days.
Jiwanram Sheoduttrai Industries Limited is engaged in manufacturing and supplying Industrial Safety Gloves and Garments all over India and to some foreign countries.
The company’s revenue from operations grew 24.18 percent from Rs. 34.08 Crores in FY22 to Rs. 42.32 Crores, accompanied by increasing profits of Rs. 1.5 Crore to Rs. 4.03 Crores.
It has reported a return on equity (ROE) of 13.93 percent and a return on capital employed (ROCE) of 9.24 percent, it is making decent returns on its equity and capital employed, accompanied by increasing profitability.
Written by: Bharath K.S
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.
