This smallcap stock has zoomed 87% in 8 days; skyrocketed 10,889% in 4 yrs!

Shares of PTC Industries hit a new high of Rs 14,950, as they surged 19 per cent on the BSE in Friday's intraday trade

Shares of PTC Industries (PTC) hit a new record high of Rs 14,950 as they surged 19 per cent on the BSE in Friday's intraday trade, extending its past seven days' rally on strong outlook. The stock of the smallcap company was quoting higher for the eighth straight trading day. It has zoomed 87 per cent from its previous week's low of Rs 8,004.55, touched on June 4.

In the past four weeks, the market price of the company has more than doubled, up 101 per cent, from Rs 7,420. In the past four years, PTC Industries share price has skyrocketed 10,889 per cent from a level of Rs 134.22 (adjusted to rights issue) on the BSE.

Moreover, in the past four days, the stock has rallied 34 per cent after the company, on June 10, announced its partnership with leading entities under DTIS scheme in the Indian Defence and Aerospace sector to advance the 'Make in India' initiative. CLICK HERE FOR PRESS RELEASE

PTC is a manufacturer of high-quality high-precision metal components and materials for various critical and super-critical applications company. PTC Industries, through its wholly owned subsidiary Aerolloy Technologies, manufactures and supplies Titanium and Superalloy castings for Aerospace and Defence applications within India as well as for exports.

Separately, Union Defence Minister Rajnath Singh has set a defence-export target of Rs 50,000 crore on an annual basis, by FY29, (from Rs 21,083 crore in FY24) with a focus on achieving self-reliance in defence manufacturing.

As per the media reports, several major military exports to nations like the Philippines, Vietnam, and Armenia are in the pipeline and could be inked in the coming months. The ministry is also planning to set up a new defence export promotion agency that will focus on arms sales abroad, ICICI Securities said in a note.

Meanwhile, PTC is emerging as India's leading manufacturer of titanium and other super alloys-materials and castings, catering to the entire spectrum of aerospace and defence sectors. The company has platform-independent technologies at par with the best in the world.

PTC is setting up titanium and super alloy mills, based on VAR and EBCHR technologies, which will start production in FY25. The company has already signed contracts and MoUs with leading OEMs, which has created a significant order pipeline for the company.

Given the high growth visibility and significant value addition leading to over 50 per cent Ebitda margin, PTC is well poised to post a profit of Rs 1,000 crore in FY28 from a base of Rs 42 crore in FY24, analysts at Antique Stock Broking said in its coverage initiation report dated May 30, 2024. The stock, however, is trading above the brokerage firm’s target price of Rs 13,010 per share.