Small cap stock jumps 5% after receiving approval to list on NSE and BSE main boards

During Thursday’s trading session, the shares of a company in the business of injection moulding, manufacturing of electrical press components and other works surged 5 percent on NSE, after receiving approval to migrate to the NSE main board, and listing approval on BSE.

Price Movement

With a market cap of Rs. 3,012 crores, the shares of Spectrum Electrical Industries Limited were closed in the green at Rs. 1,930 on NSE, up by nearly 4.2 percent, as against its previous closing price of Rs. 1,852.55. The stock hit its 52-week high at Rs. 2,520 on 26th June 2024, and compared to current price levels of Rs. 1,930, the stock is trading at a discount of nearly 23 percent.

What’s the News

As per the latest exchange filings with the NSE, Spectrum Electrical Industries Limited has received Listing and Trading Approval from the NSE for the company’s migration from the SME Platform to the Main Board of the Exchange.

The company’s equity shares will be listed and available for trading on the Exchange (Capital Market Segment) effective Friday, March 28, 2025, following the migration from the SME Emerge platform to the NSE Main Board. Additionally, the company informed receiving Listing Approval from BSE Limited for Direct Listing from the Emerge Platform of NSE to the BSE Mainboard Platform.

Also read: Green energy stock jumps over 4% after receiving order for supply of transmission line material

Previous Updates

21st October 2024: Spectrum Electrical Industries Limited secured a purchase order worth Rs. 62.22 crores for the supply of 25 units of 0.35T PICA Whole Body MRI Machines from Time Medical International Ventures (India) Private Limited, a wholly-owned subsidiary of Fischer Medical Ventures Limited.

Financials

Spectrum Electrical reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 18 percent, rising from Rs. 137 crores in H1 FY24 to Rs. 162 crores in H1 FY25.

Similarly, the company’s net profit increased from Rs. 7 crores to Rs. 9 crores over the same period, representing a slight growth of around 28.6 percent YoY.

About the Company

Incoporated in 2008, Spectrum Electrical Industries Limited is engaged in the business of designing and manufacturing of electrical, automobile and irrigation components as contract manufacturers and as component suppliers to leading industry players on Business-to-Business (B2B) model.

Written by Shivani Singh

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