Penny Stock Below Rs 10 Secures Multiple Orders Worth Rs 111.42 Cr: Do You Own?

Rajnandini Metal is a trade sector small-cap firm having a market valuation of Ra 248 Cr. Rajnandini Metal serves as a vital commercial intermediary, linking producers, processors, yards, and buyers/dealers globally. Rajnandini Metal counts prestigious businesses in the steel, automotive, light/heavy engineering, construction, chemical, and electronic industries among its clients. The company has declared that it has received several orders to provide its products to different parties.

The company has announced securing orders of Rs 111.42 Cr from different parties. KEI Industries has inked an order deal of Rs 50.11 Cr, Orient Cables (India) has supplied an order deal of Rs 16.26 Cr, Daimler India Commercial Vehicles has awarded Rs 12.32 Cr, Paramount Communications has awarded Rs 10.92 Cr, Svarn Infratel granted Rs 10.44 Cr order. Furthermore, Rajnandini Metal has secured a Rs 4.63 Cr order deal from Specific Wire Pvt Ltd, Rs 4.11 Cr from SPM Power & Telecom Private and Rs 2.63 Cr from Toyota Tsusho India.

On a standalone basis, the company reported a net income of Rs 334.04 Cr in the quarter ended September 2023 compared to Rs 185.21 Cr in the same quarter of FY23. Its net expenses stood at Rs 325.74 Cr in Q2FY24 as against Rs 178.27 Cr in Q2FY23. Its EBIT reached Rs 8.30 Cr in the second quarter of the current fiscal as against Rs 6.94 Cr in the year-ago quarter. The net profit of Rajnandini Metal reached Rs 6.50 Cr in Q2FY24 vs Rs 3.34 Cr in Q2FY23 and Rs 4.59 Cr in Q1FY24.

On Monday, the shares of Rajnandini Metal were trading 4.47% higher at Rs 9.35 in the morning deals.