Shares of Alphalogic Industries jumped up close to 10% on Monday morning to hit a new 52-week high of ₹254.75.
What Happened: The company announced bagging two orders on Monday. The first announcement was for an order from Trinity Engineers Private Limited. The order is for the design, manufacture, supply and
installation of MS Pallet and storage rack solution. The ₹30 lakh order is to be completed by December.
See Also: Why This Adani Stock Is Crashing 4% Today
The second order was from Scootsy Logistics Private Limited popularly known as Swiggy (Swiggy merged with its subsidiary Scooty Logistics in 2020). The order is for the design, manufacture, supply and installation of a storage racking system. The order value is around ₹71 lakh and the order is to be completed within this month.
The stock is also gaining strength as the BSE revised its price band from 5% to 10%. The developments helped the stock continue its 5-day gaining streak.
Price Action: Alphalogic Industries shares simmered down after the initial surge and were trading 4.49% higher at ₹242 at the time of writing on Monday.
Read Next: Why This Tata Stock Is Sliding Today
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.