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Vijay Kedia portfolio SME stock has zoomed 31% in 2 days on heavy volumes
Source: Business Standard
Shares of Affordable Robotic & Automation hit a 52-week high of Rs 829 on the BSE on Monday. Affordable Robotic & Automation share price today surged 19 per cent in the intraday, extending Friday’s up move amid heavy volumes. In the last two days, the stock of the industrial products company has zoomed 31 per cent. Affordable Robotic & Automation stock had hit a record high of Rs 864 on August 28, 2023.
At 02:39 PM, Affordable Robotic & Automation share price was quoting 15 per cent higher at Rs 801.30 as compared to 0.78 per cent rise in the BSE Sensex. Average trading volume on the counter jumped nearly four-fold today with 159,000 shares changing hands on the BSE. In the past two weeks, less than 40,000 shares had traded hands on the counter on an average, BSE exchange data shows.
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Currently, the stock is trading under small-and-medium enterprises (SME) group on the BSE.
With the two days’ rally, Affordable Robotic & Automation shares are trading 875 per cent higher over their issue price of Rs 85 per share. The company debuted in the India stock market on June 4, 2018.
Ace investor Vijay Kedia held 1.2 million shares or 9.93 per cent stake in Affordable Robotic & Automation at the end of March 2024 quarter. The company has not yet disclosed the shareholding pattern data for either the June or the September 2024 quarter.
Meanwhile, on September 26, 2024, Affordable Robotic & Automation informed the BSE that the company has received an in-principle approval from the National Stock Exchange of India Limited (NSE) for migration of trading in the equity shares of the company from the SME Platform (EMERGE) to the Main Board of NSE. The company shall be applying for the final approval for the migration in due course, it added. READ MORE
Affordable Robotic & Automation primarily provides automation solutions for welding lines using robotics and related designing services. It also offers material handling automation services and has forayed into automated car parking systems.
ARAPL RaaS, a subsidiary of Affordable Robotic and Automation, is a technology company that specialises in Robotic and Warehouse Automation. ARAPL RaaS uses AI and machine learning to automate every aspect of their service, ARAPL RaaS has filed for 6 patents, developed 5 Proprietary software, and multiple algorithms, which make its solutions future ready.
Further by developing its own motors, drive and controller, the whole electric power train by mid of 2024 will give a tremendous cost and technology advantage. Fungible and adaptable to the changing patterns of consumer demand, the solutions provided by ARAPL RaaS can help its customers improve manpower productivity by up to 400 per cent while saving 30 per cent of rentals, their autonomous robots enable Lights-Off operations without human assistance, the company said.
First Published: Oct 14 2024 | 3:10 PM IST
