Surya Roshni hits back-to-back 52-week high post results and receives multiple orders!

The market experienced a record-breaking opening on Wednesday, as the BSE Sensex Index rose by 0.47%, reaching a level of 63,716, while the NSE Nifty-50 Index increased by 0.48%, reaching a level of 18,908.15. 

Today, shares of Surya Roshni surged 4.01% to Rs 927.60 per share from its previous closing of Rs 891.85. The stock also traded at a new 52-week high of Rs 934.75 per share. In the recent trading session, the stock is hitting back-to-back 52-week highs with a spurt in volume by more than 1.50 times on BSE. 

Order Updates: Th company informed the exchange that it has received orders from PSUs worth Rs 147.30 crore (including GST) for the supply of API- SL Coated pipes and bare pipes from Indian Oil Corporation Limited (IOCL) and Powder Coated GI Pipes from GAIL (India) Limited. And another order amounting to Rs 96.39 crore (including GST) for the supply of 3LPE Coated steel pipes from Hindustan Petroleum Corporation Limited (HPCL) for City Gas Distribution (CGD) projects in three geographical areas in the State of Rajasthan, Bihar, Jharkhand and West Bengal. 

Results Updates: The net sales decreased by 6.52% to Rs 2,151.33 crore and net profit increased by 87.88% to Rs 155.88 crore in Q4FY23 compared to Q4FY22. The net sales increased by 3.44% to Rs 7,996.71 crore and net profit increased by 63.73% to Rs 335.52 crore in FY23 compared to FY22. 

This multibagger small-cap stock has witnessed a remarkable surge of 155% over the past year, and investors have enjoyed a substantial return of 630% over the past three years. Currently, the stock is trading with a price-to-earnings ratio of 13.64x. 

It is advisable for investors to closely monitor this stock as it shows promising potential for future growth.