This Stock Has Jumped 820% From 52-week Lows, What's Happening?

To begin with please be informed that the article is informative and not a recommendation to "buy", "sell" or "hold" from our end. The stock of Spectrum Electrical Industries, which was trading as low as Rs 58, has now surged to Rs 534, rallying a solid 820% in the process.

The reasons for the sharp jump are not known, but, at the moment the stock has hit a 52-week high. The shares have once again rallied to hit the upper end of the circuit filter.

Spectrum Electrical Industries has a surface coating division, a metallic stamping division and also a division that designs moulds.

The surface coatings division is is a pioneer in surface coatings in the electrical switchgear and automotive segments and is EHS compliant. The company undertakes Zinc, Nickel, Tin, Copper, Silver and Gold electroplating of metal components to customers exacting quality requirements. The current output is 150MT/day and covers zinc, Nickel, Cu, Tin, Silver Plating.

The Metallic stamping Division on the other hand is equipped with 65 stamping presses of which 20 are high speed stamping presses and balance 45 are mechanical power presses with capacities varying from 10 300MT. This division manufactures machine precision, high volume, complex electro- mechanical components and sub-assemblies to the exacting quality requirements of the customer.

Disclaimer

The article is informative and should not be construed as a "buy" recommendation. Neither the author, nor Greynium Information Technologies Pvt Ltd should be held responsible for losses based on a decision after reading the article. We have not done any analysis and are just providing information on the stock gaining ground. Goodreturns.in advises users to consult with certified experts before making any investment decision.