Defence Stock Hit Upper Circuit After Bagging Orders Worth Rs 7,50,00,000
The stock is up by 95.90 per cent from its 52-week low of Rs 100 per share.
On Wednesday, shares of Innomet Advanced Materials Ltd hit a 5 per cent upper circuit to Rs 195.90 per share from its previous closing of Rs 186.60 per share. The stock’s 52-week high is Rs 257 per share and its 52-week low is Rs 100 per share.
Innomet Advanced Materials has announced significant progress as of May 31, 2025, with its secured order book reaching a total value of Rs 7.50 crore. This includes Rs 6.59 crore from Defence Establishment orders in the Tungsten Heavy Alloy (THA) vertical and an additional Rs 1.91 crore from Defence Establishment orders in the Metal Powder (MP) vertical.
Innomet Advanced Materials Ltd, established in 1984, specialises in the global manufacturing and supply of specialty powder metallurgy products, encompassing both ferrous and non-ferrous metal/alloy powders and customised powders. Their extensive product range includes various metal powders used in industries like powder metallurgy, diamond tools, and welding, alongside Tungsten Heavy Alloy Components such as radiation shielding, balance weights for aerospace, and defence applications. The company leverages technical collaborations with institutions like IIT-Chennai and DRDO, serving a diverse clientele including Sundaram Fastners and HAL.
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According to the shareholding pattern as of March 2025, the promoters hold 54.80 per cent stake, FIIs hold 4.28 per cent, DIIs hold 1.02 per cent and the remaining 39.9 per cent stake is owned by the general public. The company has a market cap of Rs 253.50 crore. The stock is up by 95.90 per cent from its 52-week low of Rs 100 per share.
Disclaimer: The article is for informational purposes only and not investment advice.