Shares of small cap company Presstonic Engineering Ltd saw an upper circuit of 5 percent on Monday. The market cap of the company is Rs 86 crore. Let us know what is the reason behind the rise?
In fact, Presstonic Engineering has informed that it has received a contract from defense company BEML Ltd. Order worth Rs 2.27 crore has been received from. Shares of Prestonic Engineering rose 5% to Rs 111.75, compared to the previous close of Rs 106.45. This penny stock is not listed on BSE. About 0.10 lakh shares were transacted, totaling a turnover of Rs 0.11 crore.
The stock has a one-year beta of 0.7, indicating very low volatility over this period. The stock is showing a strong trend as per the price action charts in both short term and long term. Shares of Prestonic Engineering are trading above 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
Prestonic Engineering has informed NSE that Prestonic Engineering Limited has received a purchase order for supply of Seat Kit Items (Excluding Seat) under BEML Limited, Total Order Value Rs. 2,27,69,757.56/- (Exclusive of Taxes) Except).
Let us tell you that Prestonic Engineering is a manufacturing and servicing company of railway and metro railway rolling stock and signaling equipment.
Disclaimer: This information is for informational purposes only and should not be construed as investment advice. It is recommended to consult a financial advisor before making investment decisions.