The shares of this aviation components manufacturer gained up to 1.3 percent after the company signed a Memorandum of Understanding with Altair Infrasec Pvt Ltd to support the development of the prototype of a strategic product worth Rs 3.5 crore.
With a market capitalization of Rs 869.83 crore, the shares of Taneja Aerospace & Aviation Ltd were trading at Rs 348.90 per share in Bse, decreasing around 2.31 percent as compared to the previous closing price of Rs 357.15 apiece.
According to the company filing, Taneja Aerospace & Aviation Ltd entered into a Memorandum of Understanding with Altair Infrasec Pvt Ltd to support the development of the prototype of a strategic product, this project worth Rs 3.5 crore.
Looking into the company’s financial, Taneja Aerospace & Aviation Ltd’s revenue increased by 8 percent from Rs 6.59 Crore in Q2FY23 to 1,122 Crore in Q2FY24. During the same period, net profits decreased by 19 percent from Rs 3.31 crore to Rs 2.67 crore.
The stock has delivered a multi-bagger return of 102.69 percent in six months and 207.06 percent in a year. As a consequence, if an investor purchases Rs 1 lakh in the firm, their shares are now worth Rs 3.07 lakh after a year.
Taneja Aerospace & Aviation Ltd reported return ratios in the recent financial year with a return on equity (ROE) of 10.3 percent and a return on capital employed (ROCE) of 15.4 percent.
Taneja Aerospace & Aviation Ltd’s recent shareholding pattern, The Promoters of the Company own 51.23 percent while Retail shareholders own a 48.77 percent stake in the company.
Taneja Aerospace & Aviation Ltd is in the business of manufacturing and selling different parts and components to the aviation sector, as well as offering Airfield & MRO and ancillary services.
Written by:- Abhishek Singh
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