&w=3840&q=100)
This smallcap stock zooms over 50% in 4 days; what's fuelling the rally?
Rajratan Global share price today: Shares of Rajratan Global Wire have rallied 19 per cent to ₹462 on the BSE in Wednesday's intra-day trade amid heavy volumes. The stock price of the smallcap auto components & equipments maker is trading higher for the fourth straight day, zooming 54 per cent during the period.
At 10:23 am; Rajratan Global Wire was quoting 14 per cent higher at ₹443.20, as compared to 0.23 per cent rise in the BSE Sensex. The average trading volumes on the counter jumped multiple-fold, with a combined nearly 2 million equity shares having changed hands on the NSE and BSE.
Rajratan Global Wire share past price movement
Share price of Rajratan Global Wire had hit a 52-week high of ₹668 on April 23, 2024. Currently, the stock is trading 31 per cent lower from its 52-week high price. Since listing on May 22, 2020, the market price of Rajratan Global Wire has skyrocketed 1,083 per cent, or rose 12.5 times, from ₹37.
What's fuelling the rally?
In the fourth quarter (January to March) of the financial year 2024-25 (Q4FY25), Rajratan Global Wire has reported 63.3 per cent sequential growth in consolidated profit after tax (PAT) at ₹15.20 crore, from ₹12.34 crore in Q3FY25. However, on a year-on-year (YoY) basis, PAT declined 25 per cent from ₹20.25 crore in Q4FY24.
Revenue grew 15.1 per cent Q-o-Q and 5 per cent Y-o-Y at ₹33.33 crore. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) margins improved 124 bps to 13.26 per cent from 12.02 per cent in Q3FY25.
Higher realisations, increased sales to marquee customers, deliberately low exposure to cycle tyre makers and sharper percentage increase in sales to automotive tyre companies, coated wire customers and exports, enhanced the company's profitability. ALSO READ |
During the last quarter, its Board of Directors approved the conversion of low value-added black wire capacity to higher value-added wire rope which will empower the company to achieve similar profitability as its India bead wire business.
June 2025 quarter (Q1FY26) outlook
The management expects higher sales volumes in June 2025 quarter (Q1FY26) and better amortisation of fixed costs. The company expects increased capacity utilisation of the new Chennai plant and higher exports from India. The company's product is not affected by reciprocal US tariffs.
'On the overall we remain cautiously optimistic in a dynamic global scenario. We expect the scenario to play out positively for Rajratan, reinforcing our sustainable growth efforts. We look forward to commencing FY 2025-26 on a positive note,' the management said.
Capacity addition or product launch
The company's board of directors approved the procurement of machinery for the production of a new value-added product, Wire Rope, at the Pithampur plant. This strategic initiative is aimed at converting the existing 12,000 TPA capacity of Black Wire into 10,000 TPA of Wire Rope, thereby augmenting the overall value proposition and enhancing the Company's product portfolio. ALSO READ |
About Rajratan Global Wire
Rajratan Global Wire is a leading bead wire manufacturer and supplier of high quality products. The Company has a capacity of 72,000 TPA (60,000 TPA for bead wire) in India and 60,000 TPA in Thailand. The Company has set up a Greenfield unit in Chennai with a capacity to go up to 60,000 TPA, of which 30,000 TPA is currently being installed in Phase 1. The company is the only bead wire manufacturer in Thailand. The company is working towards increasing market share in the bead wire industry in both Thailand and India.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Print
2 hours ago
- The Print
Rupee dives 59 paise against US dollar on spike in crude oil prices
At the interbank foreign exchange, the rupee opened at 86.25 against the greenback and traded in the range of 85.92-86.25 before closing at 86.11, up 59 paise from its previous close. Brent crude, the global oil benchmark, rose sharply by 7.27 per cent to USD 74.40 per barrel in futures trade. Mumbai, Jun 13 (PTI) The rupee plummeted 59 paise to 86.11 against the US dollar on Friday due to a spike in global oil prices and a firm dollar amid rising tensions in the Middle East following Israel's attack on Iran's nuclear sites. The local unit had settled at 85.52 on Thursday. Weak domestic equity markets and FII outflows further contributed to the fall in the local unit, forex traders said. 'The rupee fell to a low of 86.25 before recovering to 85.92 before ultimately closing at 86.07. It has taken one country's military strike on another to bring home the fragility of markets,' Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. 'The RBI did support the rupee… oil prices were a concern as an increase of USD 10 increases trade deficit by USD 12 billion and CPI inflation by 50 bps,' he said. In the domestic equity market, the 30-share BSE Sensex tanked 573.38 points to settle at 81,118.60, while Nifty dropped 169.60 points to 24,718.60. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.33 per cent to 98.24. Foreign institutional investors (FIIs) offloaded equities worth Rs 1,263.52 crore on a net basis on Friday, according to exchange data. 'FPIs continued to remain sellers of equity and buyers of the US dollar, while oil companies bought dollar on rising oil prices. Iran has closed its airspace, affecting our airline routes already hit by the closure of the route by Pakistan. 'For Monday, we expect the rupee to trade in a similar range of 85.75-86.50 as we await India's trade deficit data to be released,' he added. PTI BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Business Standard
5 hours ago
- Business Standard
Lemon Tree Hotels signs new property in Arunachal Pradesh
Lemon Tree Hotels has announced the signing of a new property in Itanagar, Arunachal Pradesh. The property will be managed by Carnation Hotels, a wholly owned subsidiary of Lemon Tree Hotels. Lemon Tree Hotel, Itanagar will feature 70 well-appointed rooms, a restaurant, a bar, a banquet hall, a meeting room, a swimming pool, a gym, a spa, and other public areas. Donyi Polo Airport, Itanagar, is approximately 25 km from the property, while Naharlagun (Itanagar) Railway Station is around 12 km away. The hotel is also well-connected by road, offering easy access to both public and private transportation. Lemon Tree Hotels (LTHL) is one of the largest hotel chains in India and owns/leases/operates/franchises hotels across the upscale, upper-midscale, midscale, and economy segments. The group offers seven brands to meet guests needs across all levels, viz., Aurika Hotels & Resorts, Lemon Tree Premier, Lemon Tree Hotels, Red Fox Hotels by Lemon Tree Hotels, Keys Prima by Lemon Tree Hotels, Keys Select by Lemon Tree Hotels, and Keys Lite by Lemon Tree Hotels. Lemon Tree Hotels reported a 26.37% jump in consolidated net profit to Rs 84.64 crore, while revenue from operations rose 15.64% to Rs 378.51 crore in Q4 March 2025 over Q4 March 2024. The scrip rose 0.51% to end at Rs 138.55 on the BSE on Friday.
Business Standard
7 hours ago
- Business Standard
Syngene's Bengaluru-based facility gets 'NAi' status from US FDA
Syngene International said that the United States Food and Drug Administration (US FDA) conducted a good clinical practices (GCP) compliance inspection of the company's facility located at Semicon Park, Bengaluru, from 09 to 13 of June 2025. The inspection concluded successfully, with the facility found to be in compliance with the required regulations. The inspection resulted in zero observations and no Form 483 was issued. The inspection has been classified as no action indicated (NAI). The company remains commitment to high operating standards and rigorous compliance with global regulatory requirements across all its operations, Syngene said in a statement. Syngene International is an integrated research, development, and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical sectors. On a consolidated basis, net profit of Syngene International declined 2.81% to Rs 183.30 crore while net sales rose 11.03% to Rs 1018 crore in Q4 March 2025 over Q4 March 2024. The scrip had lost 1.57% to end at Rs 652.50 on the BSE on Friday.
