Penny Stock Below Rs 30 Jumps 18 Per Cent After Bagging Export Order of Rs 6,88,27,720, Exceeding Its Net Profit Since 2014
The stock is up by 72.60 per cent from its 52-week low of Rs 14.72 per share.
Archies Ltd, India’s legacy brand in the social expression and gifting industry, has announced the Export orders from the U.S. parties. The Company has received a USD 8,00,000 (Rs 6,88,27,720 at Rs 86.03 per dollar) export order from big U.S. parties. This export order signifies a pivotal moment for Archies and is targeted to complete the orders within 3 months.
This expansion reflects Archie’s vision to bring thoughtfully designed products to global customers, ensuring accessibility through physical and online retail channels. Archies is poised to extend its business to the global market with exemplary mastery over its designing, quality, modernised technology and machinery to meet the global demand. This order, amounting to more than its cumulative net profit of Rs 5.24 crore since 2014, represents a significant gain.
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Incorporated in 1990, Archies Ltd. is a well-known retailer specialising in greeting cards, gifts, and stationery items under its eponymous brand. The company operates through a comprehensive network that includes both company-owned stores, franchisee outlets, distributors, and independent retailers. Archies Ltd. also extends its reach beyond domestic borders, actively exporting its diverse range of products.
On Monday, shares of Archies Ltd jumped 18 per cent to Rs 25.40 per share from its previous closing of Rs 21.51 per share. The company has a market cap of Rs 84 crore and the stock is trading at 0.55 times its book value. The stock is up by 72.60 per cent from its 52-week low of Rs 14.72 per share with a spurt in volume by more than 9 times on the BSE.
Disclaimer: The article is for informational purposes only and not investment advice.