Penny inventory: Shares of Gujarat Toolroom Restricted, a Gujarat-based firm, hit the 5 per cent higher circuit on Monday, November 25 after the corporate stated it has efficiently executed an order value ₹31 crore for Reliance Industries.
This achievement marks one other vital milestone in our collaboration with Reliance Industries, underscoring {our capability} to ship high-quality initiatives inside stipulated timelines, the corporate stated in an change submitting on Monday.
Gujarat Toolroom has now accomplished ₹60 crore value of orders for Reliance Industries within the present monetary yr.
Gujarat Toolroom share worth was buying and selling within the inexperienced, up 4.99 per cent, at ₹13.26 apiece at 11:58 am on BSE. The corporate enjoys a market capitalisation of ₹212.35 crore. In the meantime, Reliance Industries share worth was up 2.49 per cent at ₹1297.50 at 12:14 pm.
Gujarat Toolroom expressed optimism about securing extra orders from Reliance within the coming months, which might additional enhance income and profitability.
These accomplishments spotlight our firm’s unwavering dedication to excellence, innovation, and constructing long-term relationships with trade leaders, it added.
Gujarat Toolroom fundraise
Earlier this yr, in October, Gujarat Toolroom Restricted raised ₹50 crore through a Certified Institutional Placement (QIP) at a difficulty worth of ₹11.50 per share. The providing noticed robust participation from institutional traders, together with Zeta World Funds and Eminence World Fund PCC Commerce Fund.
In its change submitting, the corporate acknowledged, “Gujarat Toolroom is delighted to announce the profitable completion of its Certified Institutional Placement (QIP), elevating ₹50 crore by way of the difficulty and allotment of 4,34,78,260 fairness shares at a worth of ₹11.50 per share, together with a premium of ₹10.50 per share. This represents a big milestone within the Firm’s ongoing progress journey.”
Zeta World Funds (OEIC) PCC Ltd and Eminence World Fund PCC Commerce Fund 1 every subscribed to 2,17,39,130 fairness shares, collectively accounting for 50% of the full allotment, in response to a submitting.
Different developments
As well as, the corporate declared a 100 per cent dividend for the final quarter, showcasing its strong money circulation and constant worth supply to shareholders.
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