Shares of Gala Precision Engineering soared as much as 15.56 per cent to hit an all-time high of Rs 944.90 on the NSE today amid strong demand. A combined total of nearly 4.59 lakh shares worth around Rs 41.35 crore exchanged hands on NSE and BSE on Wednesday.
On the NSE alone, Gala Precision Engineering’s trading volume surged to 4,13,933, almost 7 times its average weekly volume of 63,527, leading to a surge in the stock price.
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Gala Precision Engineering is a leading manufacturer of precision components used in sectors such as renewable energy including wind turbines and hydroelectric power plants, various industrial sectors such as power, off-highway equipment, infrastructure and general engineering, as well as mobility segments such as automotive and railways. The company’s business mainly includes the Springs Technology division, in which it manufactures disc and band springs (DSS), including wedge lock washers (WLW), coil and coil springs (CSS) and Specialty Fastening Solutions (SFS), where it manufactures anchor bolts. , studs and nuts.
The company, as of October 16, 2024, had a market capitalization of Rs 1,168.24 crore on the NSE.
In the second quarter of FY25, the consolidated operational turnover of Gala Precision Engineering stood at Rs 53.17 crore, compared to Rs 46.38 crore reported in the corresponding quarter of FY24. The result The company’s global consolidated total for the quarter ended June 30, 2024 was recorded at Rs 6.29 crore, compared to Rs 4.97 crore in the same quarter of the previous financial year.
Earlier, on September 9 this year, shares of Gala Precision Engineering made a robust debut on the NSE, listed at Rs 721.10, a premium of 36.31 percent over their issue price. IPO of Rs 529.
On Wednesday around 2:41 p.m., shares of Gala Precision Engineering were listed at Rs 922.05, up 12.77 percent from its previous close of Rs 817.65.
The company’s shares have so far risen 31.09 percent from their listing price and 78.62 percent from their IPO grant price.
Shares of Gala Precision Engineering have a 52-week range of Rs 944.90 to Rs 682 on the NSE.
Meanwhile, benchmark stock indices BSE Sensex and NSE Nifty 50 are trading lower on Wednesday. The Sensex was quoted down 258.15 points, or 0.32 percent, at 81,561.97, and the Nifty 50 at 24,988.35, down 69 points or 0.28 percent.
First publication: October 16, 2024 | 3:09 p.m. STI
