Sprayking jumps after its arm secures export order worth Rs 2.5 crore
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Sprayking is currently trading at Rs. 16.86, up by 0.30 points or 1.81% from its previous closing of Rs. 16.56 on the BSE.
The scrip opened at Rs. 17.00 and has touched a high and low of Rs. 17.00 and Rs. 16.56 respectively. So far 177370 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 30.02 on 08-Feb-2024 and a 52 week low of Rs. 16.00 on 04-Sep-2024.
Last one week high and low of the scrip stood at Rs. 18.00 and Rs. 16.01 respectively. The current market cap of the company is Rs. 178.28 crore.
The promoters holding in the company stood at 36.41%, while Non-Institutions held 63.59% stake in the company.
Sprayking’s subsidiary -- Narmadesh Brass Industries has successfully secured an export order for the procurement of brass billets. The contract is valued at around Rs 2.5 crore. This major export order is a testament to Narmadesh Brass Industries' growing global footprint and the increasing demand for Indian-made brass products in international markets. The brass billets, known for their superior quality and precision, will be supplied to a global client, further solidifying Sprayking's presence in the international brass industry.
The export contract aligns with Sprayking's strategic focus on international markets, underscoring the company's ability to compete on a global scale. The brass billets from this contract will be utilized in a wide array of industries, including plumbing, electrical, and industrial applications, ensuring the company’s products reach diverse sectors worldwide.
Sprayking (Formerly known as Sprayking Agro Equipment) is engaged in the manufacturing of brass components and parts, including fittings, forging equipment, transformer parts, and other customized brass components.
