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  • Midcap stock hits 5% upper circuit after it receives order worth ₹ 251 Cr for supply of rubies and other stones

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Midcap stock hits 5% upper circuit after it receives order worth ₹ 251 Cr for supply of rubies and other stones

Midcap stock’s Dubai subsidiary secures AED 109 million (₹251 crore) orders for precious stones and metals, boosting global presence and aligning with its strategy to expand in high-value sectors.
Midcap stock’s Dubai subsidiary secures ₹251 crore orders, boosting global presence and expanding into high-value sectors.
Midcap stock’s Dubai subsidiary secures ₹251 crore orders, boosting global presence and expanding into high-value sectors.
  • November 21, 2024
  • 1 min read
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Introduction:

Midcap stock’s Dubai subsidiary has secured prestigious orders worth AED 109 million (INR 251 crore) to process and supply precious stones and metals, including diamonds and gold. This move strengthens its global presence and aligns with its high-value sector expansion strategy.

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Share Price movement of Bharat Global Developers Ltd:

On 21 November 2024, Bharat Global Developers Ltd (BSE: BGDL) stock opened at ₹1334.40, reflecting a 5% increase from the previous close of ₹1270.90. It touched an intraday high of ₹1334.40 and a low of ₹1334.05. At 1:15 pm, the stock was trading at ₹1334.40, up 5%. The company’s market capitalization stands at ₹13,512.08 crore. 

Bharat Global Developers Ltd share price hits 5% upper circuit:

Bharat Global Developers Ltd, through its wholly-owned Dubai subsidiary, has secured multiple prestigious orders worth approximately AED 109 million (INR 251 crore). These include processing and supplying precious stones like diamonds, rubies, and emeralds, alongside refining and delivering precious metals such as gold and palladium.

The orders, catering to prominent wholesalers and designer jewellery boutiques worldwide, are expected to yield a profit margin of 10-12% upon successful execution over the coming months. This achievement strengthens the company’s revenue pipeline and highlights its expertise in the global precious stones and metals markets.

This milestone reflects growing client confidence in Bharat Global Developers’ capabilities and aligns with its strategy to expand in high-value sectors. The company anticipates significant contributions to growth and profitability and will provide updates on progress and completion to stakeholders as required.

Also Read: Mukul Agrawal stock jumps 3% after it receives NCLT approval for creation of India’s first specialty pharma CDMO

Recent news about Bharat Global Developers Ltd:

On November 15, 2024, Bharat Global Developers Ltd announced a stock split and bonus issue to enhance market liquidity and attract a wider investor base. The company is also diversifying into AgriTech, defence technology, and renewable energy projects.

Ace investor holding of Bharat Global Developers Ltd:

Dhaval Manubhai Jadav holds 7,000,000 shares of Bharat Global Developers Ltd, representing a 6.91% stake. With a current price of ₹1,334.40 per share, his holding is valued at ₹934.1 crore, reflecting significant trust in the company’s growth potential.

Hiren Maheshbhai Sadhu also owns 7,000,000 shares in Bharat Global Developers Ltd, amounting to a 6.91% stake. Valued at ₹1,334.40 per share, his holding is worth ₹934.1 crore, showcasing his substantial confidence in the company’s trajectory.

Also Read: Navaratna stock jumps after it receives order worth ₹246.78 Cr for 48 rear dump trucks from Central Coalfields Ltd

Stock performance of Bharat Global Developers Ltd for Period of 1 week, 6 months and 1 year:

Over the past week, Bharat Global Developers Ltd delivered a strong return of 10.2%. In the last six months, the stock has surged by an impressive 496%, while its one-year performance stands at a remarkable 4,992%, showcasing exceptional growth across all timeframes.

Shareholding pattern of Bharat Global Developers Ltd:

SummaryOct 16, 2024Sep-24Jun-24
Promoter 0%0%0%
FII0%0%0%
DII 0%0%0%
Public100%100%100%
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About Bharat Global Developers Ltd:

Bharat Global Developers Ltd specialises in high-value real estate and infrastructure projects. The company has a diversified portfolio, including commercial and residential ventures, and leverages innovation and sustainability to enhance stakeholder value. 
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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Vinayak Hagargi
Vinayak is a passionate financial markets enthusiast with 4+ years of experience. He has curated over 100 articles simplifying complex financial concepts. He has a unique ability to break down financial jargon into digestible chunks. Vinayak aims to empower newbies with relatable, easy-to-understand content. His ultimate goal is to provide content that resonates with their needs and aspirations.
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