Rekha Jhunjhunwala’s hold 6.89% stake: Penny stock under Rs 75 jumps after receiving order of Rs 202.7 crore under PM Vishwakarma Scheme

Today, the Indian benchmark indices ended the trading session in the green, the BSE Sensex Index up 0.66 per cent at 82,727 and the NSE Nifty-50 Index up 0.63 per cent at 25,220.

The overall market was up, and the multibagger micro-cap stock was trending on the exchange. At the closing bell, shares of the company were trading at Rs 71.21 per share, up 7.76 per cent. The stock’s 52-week high is Rs 111.10 per share and its 52-week low is Rs 49 per share.  

The stock name is Singer India Ltd.

Singer India Limited's stock experienced a sudden surge following the announcement of significant purchase orders totalling Rs 202.7 crore (inclusive of GST) for the supply of 2,81,128 Singer Sewing Machines. These orders from two aggregators of Kendriya Bhandar are part of a larger tender won by Kendriya Bhandar under the PM Vishwakarma Scheme, despite the underlying contract being challenged in the Delhi High Court. The supply, which includes complete sewing machine sets, is to be completed by September 30, 2026, though it is subject to quantity variations, government clearance and monthly purchase order allocations.

Singer India Ltd, established in 1977, specialises in trading and manufacturing sewing machines and domestic appliances under the "Singer" and "Merritt" brands. The company operates on an asset-light model, leveraging outsourced manufacturing and back-to-back vendor warranties. It offers a wide array of products, from household and industrial sewing machines to various kitchen and home appliances.

Rekha Jhunjhunwala, an ace investor and the wife of the Late. Rakesh Jhunjhunwala holds a 6.89 per cent ownership stake in the company. The company reported positive numbers in its Quarterly Results and annual results. The stock is up by 45.3 per cent from its 52-week low of Rs 49 per share.

Disclaimer: The article is for informational purposes only and not investment advice.