This stock is a 100% subsidiary of Bharat Forge Ltd and it hits 5% upper circuit today after receiving an order of Rs. 850 Cr. The stock price is being supported by the strong and rising volume, which is above the averages from the previous day and week and it has delivered 52% returns in one year. The stock currently trading above the 50-days and 200-days moving averages.
Kalyani Forge Ltd
Kalyani Forge Ltd is a small-cap company, with a market capitalization of Rs. 102.59 Cr. On Monday shares of the company opened at Rs. 270.5 and hit a 5% upper circuit at Rs. 283.75 and it is 3.11% away from the 52-week high.
Two export orders for the supply of parts and Armoured Vehicle Chassis worth EUR 93.87 million (~ Rs. 850 crores) have been received by the company from friendly nations. These orders will be carried out over an 18-month period.
As per the company filing, the total revenue declined by 1.3% YoY from Rs. 60.4 Cr in Q1 FY23 to Rs. 59.6 Cr in Q1 FY24, and for the same period, net profits declined to Rs. 1 Cr from Rs. 1.15 Cr.
According to the latest shareholding data, Promoters hold 58.71% and the Public holds a 41.29% stake in this company.
Kalyani Strategic Systems Ltd. (KSSL) was founded as a flagship business to lead projects in the defence industry. The Group’s history and experience in design, engineering, metallurgy, and manufacturing expertise spanning more than five decades have been instrumental in the Group’s emergence as one of the leading defence players in India.
Written by Sheshadri N
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