This small-cap stock hits 5% upper circuit after the company received an order worth Rs. 12.64 Cr. The stock is trading 4.5 away from the 52-week high and 6.2% & 61% above the 50-day and 200-day moving averages respectively.
Welspun Specialty Solution Ltd
The company has a market capitalisation of Rs. 2,057 Cr, making it a small-cap company. On Monday the stock hits 5% upper circuit on BSE.
According to the company filing, Welspun Specialty Solutions Ltd received an order aggregating to amount of Rs. 12.64 Cr for the supply of stainless steel pipe from the domestic customer. The order is expected to be executed by the end of January 2024.
The stock has given 105% returns in six months and 123% returns in one year to the investors, therefore making an investment of 1 lakh six months ago now would be worth Rs. 2.05 lakhs and making the same amount of investment one year ago now would be worth Rs. 2.23 lakhs.
As per the company filing, total revenues increased by 94.8% from Rs. 85.3 Cr in Q1 FY23 to Rs. 166.2 Cr in Q1 FY24 and the company reported a net profit of Rs. 11.14 Cr in Q1 FY24 against a loss of Rs. 7.96 Cr in Q1 FY23.
As of June 2023, Promoters hold 70.50%, FIIs hold 6.34%, DIIs hold 5.71% and the public hold a 17.44% stake in the company.
The company was formerly known as RMG Alloy Steel Ltd and changed its name to Welspun Specialty Solution Ltd in 2019. It manufactures and sells steel and steel-related products. The product line includes billet, rolled bar, ingot, bloom, pipe, and tubes.
Written by Sheshadri N
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