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Shares of Affordable Robotic & Automation hit a 52-week high of Rs 829 on the BSE on Monday. Affordable Robotic & Automation’s stock price today jumped 19 percent during the day, extending Friday’s rally amid strong volumes. Over the past two days, shares of the industrial products company have soared 31 percent. Affordable Robotic & Automation stock had hit an all-time high of Rs 864 on August 28, 2023.
At 2:39 pm, Affordable Robotic & Automation’s share price was up 15 per cent at Rs 801.30, compared to a 0.78 per cent rise in the BSE Sensex. The average trading volume on the counter increased almost four-fold today, with 159,000 shares traded on the London Stock Exchange. In the last two weeks, on average less than 40,000 stocks were traded on the exchanges, according to BSE stock data.
Currently, the stock is trading under the Small and Medium Enterprises (SME) group on the BSE Stock Exchange.
With the two-day rally, shares of Affordable Robotic & Automation are trading up 875 percent from their issue price of Rs 85 per share. The company debuted on the Indian stock market on June 4, 2018.
Ace investor Vijay Kedia held 1.2 million shares, or 9.93% stake, in Affordable Robotic & Automation at the end of the March 2024 quarter. The company is yet to disclose distribution data shareholding for the June or September 2024 quarter.
Earlier, on August 28, the company said it had received in-principle approval from the BSE for migrating transactions in the company’s shares from the SME platform (EMERGE) to the main board of the BSE. The company further said that it will seek final approval for the migration in due course. LEARN MORE
Affordable Robotic & Automation primarily provides automation solutions for welding lines using robotics and related design services. It also offers material handling automation services and has forayed into automated parking systems.
ARAPL RaaS, a subsidiary of Affordable Robotic and Automation, is a technology company specializing in robotics and warehouse automation. ARAPL RaaS uses AI and machine learning to automate all aspects of its service. ARAPL RaaS has filed 6 patents, developed 5 proprietary software and several algorithms, which prepare its solutions for the future.
Additionally, by developing its own motors, drives and controllers, the entire electric powertrain by mid-2024 will provide a huge cost and technology advantage. Fungible and adaptable to changing patterns of consumer demand, the solutions provided by ARAPL RaaS can help its customers improve workforce productivity by up to 400 percent while saving 30 percent on rentals, their robots autonomous extinguishing operations without human assistance, the company said.
First publication: October 14, 2024 | 3:10 p.m. STI