Sprayking Agro Equipment soars on acquiring new manufacturing facility in Gujarat
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Sprayking Agro Equipment is currently trading at Rs. 184.90, up by 7.95 points or 4.49% from its previous closing of Rs. 176.95 on the BSE.
The scrip opened at Rs. 185.00 and has touched a high and low of Rs. 185.00 and Rs. 180.60 respectively. So far 365 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 185.50 on 21-July-2023 and a 52 week low of Rs. 13.56 on 08-Sep-2022.
Last one week high and low of the scrip stood at Rs. 185.50 and Rs. 160.40 respectively. The current market cap of the company is Rs. 187.00 crore.
The promoters holding in the company stood at 36.41%, while Non-Institutions held 63.59% stake in the company.
Sprayking Agro Equipment has acquired new manufacturing facility at Jamnagar, Gujarat. The unit will be manufacturing brass and forging components/parts similar to the existing manufacturing facility of the Company. This new Manufacturing facility is spread over 3,000 sq. mtr which has been acquired by the Company on rent from the third party. The addition of this manufacturing facility will strengthen Company’s presence in the market.
Continuing with its commitment towards customers, and acknowledging the faith and confidence they have reposed in Sprayking Agro Equipment’s manufacturing capacity, the company will produce price effective components/parts. Sprayking Agro Equipments strives to protect and serve the interests of its customers and suppliers.
Sprayking Agro Equipment has recently acquired 51% stake in M/s. Narmada Brass Industries in order to expand the business. Narmada Brass has its own manufacturing unit of copper brass products. The manufacturing plant has capacity of 2000 ton per annum of forged products. With this acquisition the Company is growing by leaps and bounds and catering to new demand of orders from domestic as well as export Market.
The Company makes 50 types of different product. Recently Company has innovated and launched 2 new products such as section rod for electrical industries and rod for bathroom fitting with chrome plating. Further 2 other products are sent for sample approval to the customer.
Sprayking Agro Equipment is spare parts manufacturing company. Its products include agriculture parts, plumbing component, auto parts, electrical parts, fitting parts, general parts and transformer parts. The company was incorporated in 2005 and is based in Jamnagar, Gujarat.
