Shares of Gujarat Toolroom touches roof on acquiring mines in Zambia

About the Acquisition 

Gujarat Toolroom (GTL) has acquired 6 hectares of mines in Zambia, marking a significant stride in its pursuit of sustainable growth. These newly acquired mines boast a rich reservoir of valuable resources, including copper, cobalt, gold, nickel, manganese, emeralds, beryllium, various gemstones, sulphur, zine, coal, iron ore, steel, limestone, uranium, and other platinum-group metals. The strategic location and resource abundance of these mines position GTL for substantial success in the mining sector.

GTL envisions each hectare of these mines, equipped with state-of-the-art Japanese technology, yielding an estimated annual revenue ranging from USD 15 to 20 million with a cumulative expanse of 6 hectares, the company confidently anticipates a minimum annual revenue of Rs 700 crore upon the operational commencement of these mines in the upcoming quarter.

Share Price Movement 

Gujarat Toolroom is currently trading at its upper limit of Rs 51.64, up by 2.45 points or 4.98% from its previous closing of Rs 49.19 on the BSE. The scrip opened at Rs 51.64 and has touched a high and low of Rs 51.64 and Rs 51.64 respectively. So far 2,68,598 shares were traded on the counter.

The BSE group ‘XT’ stock of face value of Rs 1 has touched a 52-week high of Rs 60.32 and a 52-week low of Rs 8.58. Last one week high and low of the scrip stood at Rs 51.64 and Rs 45.95 respectively. The current market cap of the company is Rs 286.88 crore. The promoters holding in the company stood at 0.37%, while Institutions and Non-Institutions held 0.28% and 99.36%, respectively.

About the company

Gujarat Toolroom specializes in building high-production multi-cavity moulds. The company offers a complete moulding solution to its customers. They can conduct trials and pilot runs of moulds developed by them. They have a range of CNC moulding machines and supply finished plastic moulded precision parts at very competitive rates.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.