The shares of Penny stock company, specializing in the manufacturing and engineering of diverse process plant equipment, are in focus upon a Bulk Deal Involving Aegis Investment Fund.
With a market capitalization of Rs. 145.051 crores on Wednesday, the shares of Expo Gas Containers Ltd jumped upto 4.4 percent, making a high of Rs. 68.00 per share compared to its previous closing price of Rs. 65.13 per share.
Expo Gas Containers Ltd, engaged in the manufacturing and engineering of diverse process plant equipment, recently experienced a bulk deal in which Aegis Investment Fund bought 1,50,000 Lakh equity shares, at Rs. 65.27 per share for Rs. 97.9 Lakh, representing a total of 0.66 percent of the company.
This significant offloading by a prominent institutional investor has drawn market attention, raising questions about the stock’s near-term outlook. The move also comes amid heightened volatility in penny stocks, prompting retail investors to closely monitor developments surrounding the company.
Financials & others
The company’s revenue rose by 69.1 percent from Rs. 14.96 crore to Rs. 25.31 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 0.29 crore to Rs. 0.67 crore during the same period.
In Q3FY24-25, Expo Gas Containers Ltd’s order book was primarily dominated by storage tanks, which accounted for 88 percent, Columns made up 9 percent, while vessels contributed the remaining 3 percent.
The company has a strong set of marquee clients, including GAIL, Thermax, Indian Oil, BPCL, ONGC, LP Gas, HP Petroleum, L&T, Reliance Industries Ltd, Cipla, Navin Fluorine International Ltd, and many more.
Expo Gas Containers Ltd is an Indian company engaged in the design, manufacture, and supply of pressure vessels, heat exchangers, and other engineering products, primarily for the oil & gas, petrochemical, and fertilizer industries. Established in 1982, the company serves both domestic and international clients.
Written by Sridhar J
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.
