Pitti Laminates hit the upper circuit
By
Research Desk
about 9 years ago
Pitti Laminates hit a new high today at Rs.106.05, up 20%, its upper circuit. The rise has been spectacular since yesterday’s close of Rs.88.40.
The stock hit a new high posted a jaw dropping 753% jump in net profit at Rs.3 crore on a 99% jump in net sales at Rs.92 crore. This rise on the basis of operational efficiency has been widely appreciated by the market. With market punters on the lookout for mid and small cap, well performing stocks get attention immediately.
The company yesterday also announced a 2 for 1 stock split. This small cap stock, with a market cap of Rs.57 crore is engaged in the manufacture of electric-grade steel stampings and laminations, used as a component in motors, rotors and other electrical components.