Small-cap stock below ₹5 jumps 9% after this order book update. Do you own?
Small-cap stock below ₹5: GG Engineering shares have been in uptrend since early morning deals. The small-cap penny stock opened higher and went on to hit intraday high of ₹1.17 apiece levels on BSE, logging over 9 per cent rise during morning session. The penny stock below ₹5 has been in news these days for latest order book update.
As per the information available on BSE, the small-cap company has bagged ₹21 crore order for supplying iron raw materials to prominent industrial houses. The small-cap stock below ₹5 informed Indian stock market bourses about the order citing, "G.G. Engineering Limited is glad to announce having won orders valued Rs.
210 million for supplying Iron Raw Material to prominent Industrial houses of repute consuming steel as the primary Raw Material. The company will be completing these supplies within next 30‐45 days and is anticipating additional orders as well for Q3 of the current financial year." Recently, the penny stock had announced Rights Issue to raise funds. The Rights Issue Committee of the company last week approved the allotment of 49,88,20,215 company shares with a face value of Re 1 per equity share.
The small-cap company informed Indian bourses about the same last week citing, “With reference to the captioned subject and in furtherance of the meeting of the Board of Directors held on February 25, 2023, this is to inform you that in accordance with (i) the Letter of Offer dated July 5, 2023, and (ii) in accordance with the Basis of Allotment finalized in consultation with Designated Stock Exchange i.e. BSE Limited and the Registrar to the Issue, the Rights Issue Committee of the Company has, at its meeting held today i.e. August 4, 2023 approved the allotment of 49,88,20,215 Fully
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