Stock Market Today: Circuit-to-circuit Multibagger stock Bharat Global Developers hit upper circuit for 17th consecutive session today after receipt of ₹156 crore order
The Bharat Global Developers share price opened at ₹1544.05 on the BSE on Tuesday , 4.9% higher than previous closing price of ₹1471.15. Bharat Global Developers share price thereafter hit intraday high of ₹1544.70, marking gains of 5%. For Bharat Global Developers share price, gains of 5% to ₹1544.70 also remains to be the upper price limit. Hence Bharat Global Developers share price hit upper circuit limit . Notably this is the 17th consecutive session when Bharat Global Developers stock has hit upper circuit limit
Bharat Global Developers on Monday post market hours announced receipt of a large order worth ₹ ₹156 crore order from UPL Agro Pvt. Ltd. The order received is for supply of 3,00,000 tons Oil Grade Groundnuts. The order is to be completed by Bharat Global Developers in 6 months.
Earlier Bharat Global Deveopers also had announced another large order worth ₹251 Crore
The wholly-owned subsidiary, based in Dubai, of Bharat GLobal Developers had secured multiple prestigious orders for processing and supplying high-value precious stones, including diamonds, rubies, emeralds, and sapphires, to prominent wholesalers and bespoke designer jewellery boutiques. Additionally, the subsidiary has been entrusted with refining and supplying precious metals such as gold and palladium. The total value of these orders is approximately AED 109 million, translating to ₹251 crores.
Bharat Global Developers had said that these orders represent a substantial addition to its subsidiary’s revenue pipeline and are expected to yield an estimated profit margin of 10-12% upon successful execution over the coming months. The company further added, “We are optimistic that the successful execution of these orders will significantly contribute to the Company’s overall growth trajectory and profitability.”
In addition the Board of Bharat Global Developers had approved a 1:10 stock split, wherein each equity share with a face value of ₹10 will now be subdivided into 10 equity shares with a face value of ₹1 each.
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