Only buyers in this multibagger company after securing an order from Southern Railways!
On a six-month basis, the scrip climbed over 180 per cent and furnished stellar returns of 212 per cent, year-to-date.
Indrayani Biotech declared on Tuesday that Southern Railways has appointed the company to design, manufacture and supply industrial boilers. In response, shares of the company soared and were locked at a 5 per cent upper circuit at Rs 84.50 per share on the BSE.
Southern Railways has initiated a project to produce steam-powered T- Special Trains. Through the joint venture partner Matrix Boilers Limited (Trichy), Indrayani Biotech had acquired the capacity to design, manufacture and distribute industrial boilers together with pressure parts and components under the name ‘IBL MATRIX.’
Considering the financial performance of the company, it has recorded net sales and other operating income of Rs 25.63 crore, thereby surging 79.09 per cent from Rs 14.31 crore registered in Q1FY22. In comparison to the same quarter the year before, Q1FY23 experienced a massive 182 per cent surge in net profit, coming in at Rs 1.79 crore as opposed to Rs 0.63 crore.
Incorporated in 1992, Indrayani Biotech Limited (IBL) is venturing into three verticals, namely food and hospitality, healthcare and engineering. On a six-month basis, the scrip climbed over 180 per cent and furnished stellar returns of 212 per cent, year-to-date. An investment of Rs 1 lakh in this company last year would have turned to Rs 3.2 lakh today as its shares surged 220 per cent in just one year.
Keep a close eye on this scrip for the upcoming sessions.