Tilaknagar Industries Stocks Traded 52-Weeks High On Merger News!

Despite beginning higher, Indian headline indices ended much lower, heavily affected by the losses in power, utilities and oil & gas sectors. Broader indices also declined in line with the main indices. Tilaknagar Industries Ltd, a small-cap company, on the other hand, impressed investors with its robust upswing. 

On an intraday basis on Thursday, the shares of Tilaknagar Industries Ltd witnessed a rally, reaching a new 52-week high of Rs 157.15 per share on the BSE. With a more than 9-fold surge in volume, shares ended the session over 11% higher. The stock has experienced significant buying interest, driven by its stellar quarter performance. 

Taking into account the company’s quarterly performance, on a consolidated basis, it reported a significant growth of 37.69% from Rs 520.91 crore registered in Q4FY22, recording total revenue of Rs 717.25 crore in Q4FY23. When comparing the net profit for the fourth quarter of FY23 to the same quarter last year, it skyrocketed 154.20% from Rs 23.25 crore to Rs 59.10 crore.    

In addition, the company announced that the National Company Law Tribunal (NCLT), has approved the scheme in the matter of Scheme of Amalgamation (Merger by Absorption) of Kesarval Springs Distillers Private Ltd, Mykingdom Ventures Private Ltd, Srirampur Grains Private Ltd and Studd Projects Private Ltd with and into Tilaknagar Industries Ltd and their respective shareholders. 

Shares of the company have soared more than 155% in the past year, with stellar returns of about 35% in just the last one month!    

Keep a close eye on this scrip for the upcoming sessions!