The shares of Meson Valves traded higher by more than 3 percent on a weak day for markets. The company announced on April 15, after trading hours that it has received two export orders from KW Engineering Solutions Pts Ltd, Singapore for an aggregate amount of $8,46,810 or Rs 7.03 crore approximately, exclusive of all taxes.
The announcement on BSE SME platform further stated that the order has to be delivered within the period of 16 weeks. The order is a unique export order due to Meson’s experience in niche high end technology products like remote operated triple offset butterfly valves in Non-ferrous materials.
Meson Valves shares are trading at a PE of 154 while the market cap currently is at Rs 720 crore. The half yearly profits have been declared at Rs 2.66 crore in September 2023 while sales have been reported at Rs. 20 crore.
Meson Valves shares are up by 17 percent on YTD basis. Since listing Meson Valves shares have gained by 237 percent. Meson Valves was listed on BSE SME platform in September 2023.
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BSE SME IPO index is up by 1.33 percent or ~900 points on a weak market day when Sensex is down by more than 500 points. However the advance decline ratio is in favour of advances indicating outperformance in the broader market space.
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