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Mauritius-Based FII Buys Stake in Multibagger Stock
Mauritius-based foreign based institutional investor (FII) Aegis Investment Fund has picked up stake in Gujarat-based Tirupati Forge on Tuesday. More than 14.36 lakh equity shares exchanged hands in Tirupati Forge on NSE, among which Aegis bought about 5 lakh equity shares in the company aggregating to ₹1.1 crore. Tirupati Forge shares have witnessed an impressive upside in the past six months, and the stock has even emerged as a multi-bagger from its 1-year low.
Tirupati Forge to add new US-based client, revenue to rise about 30%
Tirupati Forge Limited has announced the addition of a new US based client in its clientele. The company has made this announcement via a regulatory filing. In this exchange filing, the company said that it has received an approval from a US company to buy a mass quantity of flanges, forged fittings and other components.
Tirupati Forge receives approval for supply of forgings, stock rises 3%
Tirupati Forge has received approval from a number of reputed large companies of India for supply of forgings and machined components and the company expects a strong rise in its topline after the approval. The stock rose about 3 per cent in the early trade.
Stock under ₹40 hits 5% upper circuit after raising ₹86.4 Cr via preferential issuance
According to the latest regulatory filings with the NSE, Tirupati Forge Limited successfully raised Rs. 86.4 crores through the issuance of preferential equity and warrants. The issue was subscribed by multiple investors including leading family offices and high-net-worth individuals (HNIs).