1:1 bonus share: Multibagger defence stock hit the upper circuit after receiving a contract from PLR Systems Pvt Ltd
DSIJ Intelligence-1Categories: Multibaggers, Trending
The stock is up by 88 per cent from its 52-week low of Rs 277.78 per share and has given multibagger returns of over 600 per cent in 5 years.
Investment & Precision Castings Limited (I&PCL) has been awarded a significant contract by PLR Systems Private Limited for the supply of precision investment castings components destined for the defence sector. This strategic partnership connects I&PCL with a prominent entity in the Indian defence manufacturing landscape. PLR Systems Private Limited operates as a joint venture between the Adani Group and Israel Weapon Industries (IWI), focusing on the production of small arms and related defence equipment.
PLR Systems Private Limited is recognised for manufacturing widely used weaponry, including the TAVOR Assault Rifle, X95 Assault Rifle, GALIL Sniper Rifle, NEGEV Light Machine Gun, and UZI Sub Machine Gun. These critical defence assets are extensively utilised by both the Indian Armed Forces and the Central Armed Police Forces, underscoring the importance and high standards required for components supplied under this new contract.
Management Remarks Commenting on this development, Mr. Piyush I. Tamboli, Chairman & Managing Director of I&PCL, stated: “This strategic agreement underscores I&PCL’s expanding footprint in the global defence market and our proven capability to meet the rigorous standards required for mission-critical applications. This achievement is a testament to our advanced manufacturing infrastructure, unwavering commitment to quality, and dedication to supporting the defence sector globally. We view this as an important milestone that further strengthens stakeholder confidence and positions us for long-term growth and collaboration opportunities.”
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Incorporated in 1975, Investment & Precision Castings Ltd (IPCL) is an ISO-certified manufacturer specialising in Lost-Wax investment castings in ferrous, non-ferrous, nickel and cobalt-based alloys, producing components up to 200 kg. As an original equipment manufacturer for domestic automobile companies, IPCL also manufactures vacuum castings for the aerospace, defence and medical implant sectors, supplying fully machined and treated, ready-for-use components. Additionally, the company is involved in wind power generation through two wind turbine generators in Bhavnagar and possesses the capability to produce intricate, thin-walled, pressure-tight castings in a wide array of materials, including various steels, irons, nickel, cobalt and aluminium alloys.
On Tuesday, shares of Investment & Precision Castings Ltd hit a 5 per cent upper circuit to Rs 521.65 per share from its previous closing of Rs 496.85 per share. The company has a market cap of over Rs 520 crore and has been maintaining a healthy dividend payout of 30 per cent. The stock is up by 88 per cent from its 52-week low of Rs 277.78 per share and has given multibagger returns of over 600 per cent in 5 years. On June 27, 2025, the shares of the company ex-traded a bonus share in the ratio 1:1, where the shareholder received 1 share for every 1 share held by them.
Disclaimer: The article is for informational purposes only and not investment advice.