Shares of John Cockerill India witnessed a significant uptick, rising by 5 percent to reach the day’s high of Rs 3,000 per share on October 25. This surge came after the company successfully secured a substantial order worth Rs 280 crore from the Tinplate Company of India.
In the current calendar year, the stock of this small-cap enterprise has more than doubled, boasting an impressive 127 percent rally, compared to the modest 6 percent increase in the benchmark Sensex. Notably, John Cockerill India’s shares had hit a 52-week high of Rs 3,290 apiece on October 19, 2023.
As per an official exchange filing, the company revealed that the newly acquired work order encompasses the engineering, design, manufacture, and supply of plant and equipment for a continuous annealing line. This line is slated to be installed at the Tinplate Company’s Jamshedpur plant. The ambitious project is anticipated to be completed over a span of 28 months from the effective date. Based in Mumbai, John Cockerill India is actively involved in the manufacturing and installation of various industrial equipment, including cold rolling mill complexes, processing lines, chemical processes, thermal processes, industrial furnaces, and automation equipment for both ferrous and non-ferrous industries globally.
At 11:52 AM the shares were 2.82% higher, at ₹2,930.00
Earlier notifications from John Cockerill India had informed exchanges that the results for the July-September quarter (Q2FY24) would be disclosed on November 7. During the quarter ending in June, the company’s revenue experienced a remarkable six-fold increase, surging from Rs 37 crore to Rs 221 crore compared to the previous year. Additionally, the company managed to turn a profit of Rs 4 crore in Q1FY24, a substantial improvement from the Rs 5 crore loss incurred in Q1FY23.
