Meera Industries surges 7% on bagging order worth Rs 5.7 crore

Shares of Meera Industries jumped 7 percent in early trade on June 14 after the company bagged an order worth Rs 5.7 crore from a manufacturer of twisting machines for the technical textile segment.

The order is for the supply of Meera Industries’ heavy duty ring twister machine and will certainly help improve the revenue visibility for the company.

At 10.36 am, shares of Meera Industries were trading at Rs 50.85 on the National Stock Exchange, up 3 percent from the previous close. The stock also hit an intraday high of Rs 52.85.

Trading volumes were also higher as 8,000 shares changed hands on the exchanges, higher than the one-week daily traded average of 6,000 shares.

The stock has gained 24.5 percent in one month, and has a market capitalisation of Rs 54 crore.

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The company remains positive on the rapid growth within the technical textile industry, driven by increasing demand for high-performance textiles across various sectors. Meera Industries is well-positioned to capitalize on this market opportunity with its comprehensive range of twisting machines and unmatched expertise, the company stated in an exchange filing.

The company also said that the order win highlights its continued success and sets the stage for its future growth and expansion in the technical textiles market.

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