Stock Report

Sprayking Agro Equipment Limited launches New Product

Posted On : 2023-10-18 10:50:26( TIMEZONE : IST )

Sprayking Agro Equipment Limited (the "Company"), brass manufacturer has created and introduced a new forging product that will be used in a sensor part.

The company produces more than 50 distinct sorts of products. Recently, the company created and released a forging product that will be used in a sensor part. The product has been accepted by the client, and the company is anticipating orders for it in the near future.

Recent remarkable Development in the Company:

The Company has recently acquired its new manufacturing facility at Jamnagar, Gujarat. The unit will be manufacturing brass and forging components/parts similar to the existing manufacturing facility of the Company. This new Manufacturing facility is spread over 3,000 sq. mtr. The addition of this manufacturing facility will strengthen Company 's presence in the market.

Sprayking Agro Equipment Limited has recently acquired 51% stake in M/s. Narmada Brass Industries in order to expand the business. Established in 2019, Narmada Brass Industries is partnership firm started by Mr. Hitesh Dudhagra. Narmada Brass has its own manufacturing unit of copper brass products. The manufacturing plant has capacity of 2000 ton per annum of forged products. With this acquisition the Company is growing by leaps and bounds and catering to new demand of orders from domestic as well as export Market.

Like mentioned above Company is growing in organic and inorganic way to achieve vision and mission of the Company. The fund which is being raised shall be used for growth of the Company and in turn growth of the stake holders.

Shares of Sprayking Agro Equipment Ltd was last trading in BSE at Rs. 198.00 as compared to the previous close of Rs. 198.35. The total number of shares traded during the day was 9067 in over 100 trades.

The stock hit an intraday high of Rs. 205.70 and intraday low of 198.00. The net turnover during the day was Rs. 1805694.00.