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Smallcap stock jumps after it receives order worth ₹105.4 Cr from Prestige Estates

Prominent construction materials company secured a ₹105.4 Crore order from Prestige Estates for tiles, marble, and mosaic supply, with additional orders worth ₹104 Crore expected in the near future.
Smallcap stock surges after securing ₹105.4 Cr order from Prestige Estates, boosting investor confidence.

Introduction:

Leading player in the construction materials industry has secured a ₹105.4 Crore order from Prestige Estates Projects Limited for supplying tiles, marble, and mosaic. The order is expected to be completed in six months, with additional projects anticipated.

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Share price movement of NITCO:

On December 17, 2024, NITCO Ltd. opened at ₹147.55, up 5.0% from its previous close of ₹140.55. The stock reached a high of ₹147.55 and a low of ₹142.00. By 11:32 AM, it traded at ₹142.00, a 1.03% increase, with a market cap of ₹1,020.40 crore.

NITCO secures ₹105.4 Crore order:

NITCO Limited has secured an order worth ₹105.4 Crore from Prestige Estates Projects Limited for the supply of tiles, marble, and mosaic. The company expects to receive additional orders valued at ₹104 Crore in the near future.

The order, awarded for domestic supply, is expected to be completed within approximately six months. This significant contract is part of NITCO’s ongoing projects, which may contribute to further growth and revenues for the company.

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

NITCO Limited has shown strong performance, with a 1.86% return over the past week, 65.0% over six months, and an impressive 396% return over the past year, reflecting substantial growth and positive market momentum.

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Shareholding pattern of NITCO:

All values in %Sep 2024Jun 2024Mar 2024
Promoter46.80%47.80%47.90%
FII1%0%0%
DII8.40%14.00%15.20%
Public44.00%37.90%36.70%

About NITCO:

Nitco Ltd. (NSE: NITCO) is a leading manufacturer and marketer of ceramic tiles, vitrified tiles, marble, and gres porcelain. Established in 1966, the company operates in real estate development and has a robust network of dealers and marketing offices.

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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