Shares of Innovators Facade Systems Limited surged over 10% on Tuesday afternoon.
What Happened: The massive surge today comes as the company announced bagging from Information
Technology Park Ltd. The work order is for the design, development, supply, fabrication and installation of façade work in Bengaluru. The order is worth around ₹36.53 crore.
The micro-cap stock that was trailing in the red bumped up sharply after the announcement was made at around 1:10 pm. The Vijay Kedia-backed stock has been on a dream run this year. In the last six months, the stock has gone up over 160%. Kedia, who has been a long-time investor, owns a 10.66% stake in the company that is worth around ₹46 crore.
With a market cap of around ₹400 crore, Innovators operate in sectors as diverse as facade, fenestration, and pharmaceutical cleanroom solutions. The company is equipped with over two decades of experience in the design, engineering, fabrication, assembly, erection, and installation of customized systems.
Price Action: Shares of Innovators Facade were locked in 10% upper circuit at ₹230.10 on Tuesday afternoon.
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.