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Smallcap stock hits 10% upper circuit after it receives order worth ₹250 Cr from Mahindra for supply of EV panels

Small-cap company has secured a ₹250 crore, five-year contract with Mahindra & Mahindra for supplying electric vehicle panels, including a 3-year warranty, boosting its growth in the EV sector.
Smallcap stock hits 10% upper circuit after securing ₹250 Cr EV panel order from Mahindra.
Smallcap stock hits 10% upper circuit after securing ₹250 Cr EV panel order from Mahindra.

Introduction:

Small-cap company has secured a significant five-year contract with Mahindra & Mahindra for supplying electric vehicle panels. The ₹250 crore deal, including a 3-year warranty, is set to enhance the company’s growth prospects in the expanding EV market.

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Also Read: PSU stock jumps 4% after company announces 1:1 bonus issue

Share price movement of Saakshi Medtech:

On December 11, 2024, Saakshi Medtech and Panels Limited opened at ₹220.05, up 10.00% from its previous close of ₹200.05. The stock reached a high of ₹220.05 and maintained its level. With a market cap of ₹388.52 crore, the stock showed strong market performance.

Saakshi Medtech secures ₹250 Cr order:

Saakshi Medtech and Panels Limited has received a Letter of Business Award (LoBA) from Mahindra & Mahindra for the supply of electric vehicle (EV) panels. The deal includes a 3-year guarantee/warranty period.

The order, valued at approximately ₹250 crore (inclusive of GST), spans five years, running through 2029. The company is poised to significantly boost its operations with this substantial long-term contract.

This development marks a key milestone for Saakshi Medtech, positioning the company as a significant player in the EV supply chain. The deal is expected to enhance its growth prospects in the booming electric vehicle market.

Ace investor holding in Saakshi Medtech:

Ashish Kacholia

Ashish Kacholia holds a 3.53% stake in Saakshi Medtech and Panels Limited, owning 622,800 shares valued at ₹13.7 crore. His investment reflects confidence in the company’s growth prospects in the electric vehicle supply chain.

Jatinder Agarwal

Jatinder Agarwal holds a 4.84% stake in Saakshi Medtech and Panels Limited, owning 853,800 shares valued at ₹18.8 crore. His significant investment highlights strong confidence in the company’s potential in the electric vehicle supply sector.

Stock performance of Saakshi Medtech for Period of 1 week, 6 months and 1 year:

Saakshi Medtech and Panels Limited has shown a decline in its performance, with a 3.33% drop over the past week, a 7.70% decrease over six months, and a 14.2% fall over the past year, reflecting challenges in its growth trajectory.

Also Read: Solar stock jumps 4% after it receives work order from Zodiac Energy for solar PV modules

Shareholding pattern of Saakshi Medtech:

All values in %Sep 2024Mar 2024Dec 2023
Promoter73.60%73.60%73.60%
FII0.10%0.00%1.60%
DII1.50%1.80%3.70%
Public24.70%24.60%21.00%
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About Saakshi Medtech:

Saakshi Medtech & Panels Ltd. (NSE: SAAKSHI) is a diversified company engaged in manufacturing electrical control panels, medical X-ray systems, fabrication for locomotives, and wire harnesses. They offer design, engineering, and manufacturing solutions across various industries.

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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